Karachi: Faysal Bank Limited (FBL) and Engro Chemical Pakistan Limited (ECPL) have signed an agreement whereby FBL is extending a financing facility of PKR 1,500 million for a term of 7 years for ECPL’s Urea Expansion Project at Dharki. The project entails setting up a new plant with a production capacity of approximately1.30 mt per annum. The total cost of this project is USD 1,050 million and it is expected to be completed by Mid 2010.
Sitting from left to right Khaqan Khan, Nauman Ansari, Ruhail Mohammed, Saleemullah Memon and standing behind members of the bank’s corporate banking team
ECPL has interests in fertilizers, chemicals, food and dairy, terminal handling and IT. It is a leading fertilizer manufacturing and marketing company with specific product line that focuses on balanced crop nutrition and increased yield for the farmer.
Faysal Bank is a leading financial institution with a network of 129 branches, two sub branches, one sales and service centre, 113 ATMs in 38 cities and five corporate offices in Pakistan.
Faysal Bank’s strength is validated by its credit ranking of AA (Double A) for the long term and A1+ (A One Plus) for the short term assigned to it by both JCR VIS and PACRA.
The Bank has recently been awarded a “Certificate of Excellence” by the Management Association of Pakistan for its good corporate governance and best business practices.
Biz Wire 
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