# MI Cement to raise debt for new grinding line in Bangladesh

MI Cement Factory Ltd plans to raise foreign currency loans from HSBC and Standard Chartered Bank to finance a $70 million sixth line at its West Mukterpur site in Munshiganj, Bangladesh, adding 8,400 tpd of grinding capacity. Commercial production is scheduled for January 2021.

- Type: Expansion
- Announced: 2019-04-19
- Where: West Mukterpur, Munshiganj district, Bangladesh
- Value: $70.0M
- Starts operating: Jan 2021
- Status: announced
- Capacity: 8,400 tpd
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [MI Cement Factory Ltd](https://endata.com/companies/36783.md)
- [HSBC](https://endata.com/companies/2386.md) (investor)
- [Standard Chartered Bank](https://endata.com/companies/38845.md) (investor)

## Sources

- [cemnet.com](https://www.cemnet.com/News/story/166394/mi-cement-to-raise-debt-for-bangladeshi-grinding-unit.html), 2019-04-19: "The US$70m project will add 8400tpd of grinding capacity to the site’s current capacity of 19,400tpd."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.