Everest Bank Limited has successfully concluded the financial closure of a consortium agreement with Kajaria Ramesh Tiles Limited, Nepal's leading tiles manufacturer, formed as a 50:50 joint venture between Kajaria Ceramics Limited and Ramesh Corp. The signing ceremony took place in the presence of member banks, namely Nabil Bank, Nepal SBI Bank, and Prabhu Bank.
The agreement was executed during a special function held at EBL House Lazimpat, with Mr. Sudesh Khaling, CEO of Everest Bank, and Mr. Rohit Gupta, Vice Chairman of Ramesh Corp., overseeing the process. The consortium financing involves a total investment of Rs. 300 crores from the member banks, supporting the project valued at approximately 400 crores.
In pursuit of a visionary commitment to fostering self-reliance in the production of vitrified tiles and ceramics in Nepal, Kajaria Ramesh Tiles Limited is venturing into a Greenfield project for tile manufacturing. This significant undertaking, established as an equal joint venture with Kajaria Ceramics, India's leading and the world's 7th largest tile manufacturer, will feature a state-of-the-art manufacturing plant located in the Nawalparasi district. The facility is poised to become Nepal's largest tile production unit, boasting an impressive production capacity of 8 million square meters. The use of cutting-edge modern technology adhering to international standards will ensure that the products maintain an unmatched level of quality.
Everest Bank Limited, renowned for being the preferred choice of customers since its inception, has garnered the satisfaction of over 1.3 million customers. The bank has been at the forefront of providing cutting-edge mobile, internet, and cash banking facilities through its global network, consisting of 127 branches, 3 extension counters, and 7 regional offices, along with a network of 162 ATMs spread across the country. Furthermore, the bank is actively involved in revenue collection for the Government of Nepal, operating from 32 collection centers.
