Dhaka, Bangladesh (BBN)– A state-of-art knit garment factory- Giant Textiles Ltd. at a cost of approx BDT 1.0 billion is being set up in Maona under Gazipur district.

Led by Eastern Bank Limited, six other banks are providing syndicated term loan to finance the project.

The banks are AB Bank Ltd., Bank Asia Ltd., IFIC Bank Ltd., The City Bank Ltd., Trust Bank Ltd and United Commercial Bank Ltd. They are providing BDT 570 million.

Ali Reza Iftekhar, Managing Director and CEO of Eastern Bank Ltd. (EBL) formally inaugurated the ground breaking ceremony at the factory premises recently.

The Giant Group is a renowned business conglomerate of the country. Presently there are 15 companies under the Group.

BBN/SSR/SI-03)ct10-3:05 pm (BST)