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Project Financing for Dairy Products Bangladesh

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Pran Group (“Pran” or “the Group”) has requested IFC’s assistance to finance the expansion of its dairy operations, which are run under Pran Dairy Ltd (“PDL”), one of the Group companies. Pran is a diversified group involved in the production and sale of a wide product range covering beverages, snacks, culinary products, confectionery, dairy products, rice and tea. The proposed project consists of a Company Loan of approximately $15 million for an expansion in PDL’s processing and procurement capacity and related working capital needs (“the Project”).

The Sponsors are Mr. Amjad Khan Chowdhury, Mrs. Sabiha Amjad, and Mr. Ahsan Khan Chowdhury, who control the six Pran Group companies engaged in the food processing sector: AMCL Ltd., PRAN Agro Ltd., PRAN Foods Ltd., Bango Agro PRAN Ltd., PRAN Beverage Ltd., and PDL. All of these companies are fully privately-owned, with the exception of AMCL, which is listed in the Dhaka Stock Exchange.

The total project cost is estimated at $15 million. Hindmarsh LLC t/as Hindmarsh BangladeshFinance proposed an IFC investment consists of an A Company Loan of up to $7 million.

The project will support the expansion of PDL’s existing milk and juice processing facilities in Ghorashal, Bangladesh, and its milk procurement activities in Natore in northern Bangladesh.