Infrastructure Development Company limited (IDCOL) and IDLC Finance Limited (IDLC) signed a MoU on May 22, 2019 to promote environment-friendly, energy-efficient projects to eligible borrowers of IDCOL and IDLC by offering low-cost, long-term financing.
Debonair Synthetic Fiber Ltd. (DSFL), a concern of Debonair Group is expected to be the first company to get financing from the joint initiative. The proposed project will set up a waste recycling factory producing both recycled and virgin grade Polyester Staple Fiber (PSF) from waste plastic bottles. The project is the backward integration of their existing export-oriented outerwear & homeware manufacturing units.
M. Jamal Uddin, Deputy Managing Director, IDLC Finance Ltd.; Nazmul Haque, Director (Investment), Infrastructure Development Company Ltd.; and Mohammed Ayub Khan, Managing Director of Debonair Synthetic Fiber Ltd., signed a term-sheet to finance a waste recycling (polyester staple fiber from waste plastic bottles) project of Debonair Group at the Corporate Head Office of IDLC on July 11, 2019.