Dhaka, Bangladesh (BBN)- Axiata (Bangladesh) Limited, which operates under brand name Robi, is going to borrow US$100 million from a Chinese bank for purchasing equipments to expand network across the country.
Four loan proposals of three private companies including Axiata (Bangladesh) Limited were approved at a meeting of the scrutiny committee on foreign borrowing, held at the central bank Tuesday with Bangladesh Bank Governor Atiur Rahman in the chair.
Two other companies are United Airways (BD) and Sinha Spinning Limited, officials said, adding that all the companies would use their fund for buying capital machinery.
“We’ve given approval to the companies’ loan proposals worth a total of $142 million that would be used for expansion of their businesses,” a BB senior official said, adding that the lender will charge below 5.0 per cent interest on the loans.
Robi is a joint venture company between Axiata and NTT DoCoMo of Japan. The company commenced operation under the Aktel brand on November 15, 1997 and embarked on a new journey with the brand name of Robi on March 28 this year.
The United Airways is set to receive over $30 million from a Singapore-based leasing company to purchase three new aircraft, the BB officials said.
Launched on July 10, 2007, the United Airways (BD) Ltd. has some 500 shareholders, 95 per cent of whom are Non-Resident Bangladeshis (NRBs) living in the United Kingdom.
Sinha Spinning Limited will borrow worth $11 million from offshore units of HSBC and AB Bank.
BBN/SSR/SI/AD-11Aug10-10:04 am (BST)