Bangladesh Infrastructure Finance Fund Limited (BIFFL) organized a roadshow and Information Memorandum launching ceremony for raising BDT 271 Crore for Virgo LPG Ltd.
on 20 August 2017, at the Radisson Blu Dhaka Water Garden. The Managing Director of Virgo LPG Ltd. the Executive Director & CEO of BIFFL and the Managing Director of Bangladesh Commerce Bank Ltd., along with bankers and other members of financial community, and media attended the event. BIFFL’s primary mandate is to provide long-term financing to infrastructure projects that are critically important to the development of the country. The Executive Director & CEO of BIFFL highlighted the funding opportunities available with BIFFL for infrastructure and sustainable development activities, specifically in the LPG sector.
Virgo LPG Ltd. is going to establish an operational unit to supply Liquefied Petroleum Gas (LPG) for industrial, domestic and bulk residential use. In the context of the severe shortage of natural gas, the Government of Bangladesh has taken initiatives to encourage the use of LPG as an alternative to natural gas for household use. Virgo LPG Ltd. is going to take advantage of this potential demand and immense market opportunity.
The total project cost of the project is expected to be BDT 367.50 crore. BIFFL, as Lead Arranger of the project, will raise BDT 270.70 crore from the market in the form of long term loan, out of which BDT 145 Crore has already been raised.
Virgo LPG Ltd. is a concern Virgo Global, a diversified business group with significant stakes in industries such as pharmaceuticals, tobacco, readymade garments and agro products.
The concerned project will have an LPG filling capacity of 100,000 MT per year and a bottle manufacturing capacity of 264,000 pieces per day. The project technology will be provided by Kosan Crisplant (Denmark).
Executive Director & CEO BIFFL inaugurating Information to Managing Director of Virgo LPG Ltd and Managing Director of Bangladesh Commerce Bank Ltd.
Bangladesh Infrastructure Finance Fund Limited & Virgo LPG Limited
Bangladesh Infrastructure Finance Fund Limited (BIFFL) organized a roadshow and Information Memorandum launching ceremony for raising BDT 271 Crore for Virgo LPG Ltd.
on 20 August 2017, at the Radisson Blu Dhaka Water Garden. The Managing Director of Virgo LPG Ltd. the Executive Director & CEO of BIFFL and the Managing Director of Bangladesh Commerce Bank Ltd., along with bankers and other members of financial community, and media attended the event. BIFFL’s primary mandate is to provide long-term financing to infrastructure projects that are critically important to the development of the country. The Executive Director & CEO of BIFFL highlighted the funding opportunities available with BIFFL for infrastructure and sustainable development activities, specifically in the LPG sector.
Virgo LPG Ltd. is going to establish an operational unit to supply Liquefied Petroleum Gas (LPG) for industrial, domestic and bulk residential use. In the context of the severe shortage of natural gas, the Government of Bangladesh has taken initiatives to encourage the use of LPG as an alternative to natural gas for household use. Virgo LPG Ltd. is going to take advantage of this potential demand and immense market opportunity.
The total project cost of the project is expected to be BDT 367.50 crore. BIFFL, as Lead Arranger of the project, will raise BDT 270.70 crore from the market in the form of long term loan, out of which BDT 145 Crore has already been raised.
Virgo LPG Ltd. is a concern Virgo Global, a diversified business group with significant stakes in industries such as pharmaceuticals, tobacco, readymade garments and agro products.
The concerned project will have an LPG filling capacity of 100,000 MT per year and a bottle manufacturing capacity of 264,000 pieces per day. The project technology will be provided by Kosan Crisplant (Denmark).
Executive Director & CEO BIFFL inaugurating Information to Managing Director of Virgo LPG Ltd and Managing Director of Bangladesh Commerce Bank Ltd.
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