Press Release

Financial Closure of Consortium Agreement for Kajaria Ramesh Tiles Limited

October 5, 2023

Everest Bank Limited signs Financial Closure of consortium agreement with Kajaria Ramesh Tiles Limited, Nepal’s largest tiles manufacturing 50:50 joint venture between Kajaria Ceramics Limited & Ramesh Corp., in presence of member banks. The member banks of the project are Nabil Bank, Nepal SBI Bank &Prabhu Bank.

Amidst a special function organized at EBL House Lazimpat Mr. Sudesh Khaling CEO Everest Bank & Mr. Rohit Gupta Vice Chairman of Ramesh Corp. executed the agreement. Under the consortium financing Rs. 300 crores shall be financed by the banks for the project value at approximately 400 crores.

With a visionary commitment to making Nepal self-reliant in the production of vitrified tiles and ceramics, Kajaria Ramesh Tiles Limited, has embarked on a Greenfield project for tile manufacturing in Nepal. This ambitious venture is conducted as an equal joint venture with Kajaria Ceramics, India’s foremost and the 7th largest tile manufacturer in the world. The state-of-the-art manufacturing plant, situated in the Nawalparasi district, will emerge as Nepal’s largest tile production facility with an impressive 8 million-square meter production capacity. The cutting-edge modern technology, aligning with international standards shall be used to ensure that the products are of unparalleled quality.

Since its inception, EBL bank has been the first choice of customers and has more than 1.3 million satisfied customers and it has been providing state-of-the-art mobile, internet and cash banking facilities through its global network with its 127 branch network, 3 extension counters, 7 regional offices, 162 ATMs spread across the country.

This bank has also been providing services from 32 collection centers for the revenue collection of the Government of Nepal.