CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
China confirms $3.14b loan for Padma rail link
The Chinese State Council, the highest policymaking body of the East Asian nation, has finally given the go-ahead to the $3.14 billion loan for the Padma rail link project. The support was promised by China when its premier had visited Dhaka in 2016. The draft loan agreement is expected to be made by the end of this month, after the observance of Chinese New Year celebrations.
Alif Industries to invest Tk 400 crore in garment sector
Alif Industries plans to invest Tk 400 crore to expand its business in the garment sector. The company will raise the capital to set up a spinning mill with the capacity of running 50,000 spindles and another green plant consisting of 25 production lines to manufacture woven denim. The company will raise the money by issuing three crore ordinary shares at an average price that is 30 times of its earnings per share and the three months’ moving average of the market price.
ADB okays $360m loan to Bangladesh railway
The Board of Directors of the Asian Development Bank (ADB) has approved loans totaling $360 million to buy modern rolling stock and support reform in Bangladesh Railway to help promote a shift from roads to rail. The total cost of the ADB Railway Rolling Stock Operations Improvement Project is $453.37 million, of which $93.37 will be met by the government. It is due for completion around the end of June 2022
