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Kajaria Ramesh Tiles, Nepal's largest tile manufacturing with a 50-50 joint venture between Kajaria Ceramics Limited and Ramesh Corp, announced the successful financial closure of the consortium agreement.
Both companies have successfully secured substantial funding of Rs3 billion for their ambitious project valued at approximately Rs4 billion. Everest Bank Limited led the consortium agreement in collaboration with three other prominent financial institutions, including Nabil Bank, Nepal SBI Bank, and Prabhu Bank.
The agreement was signed by Rohit Gupta, vice chairman of Ramesh Corp and Sudesh Khaling CEO of Everest Bank. With a visionary commitment to making Nepal self-reliant in the production of vitrified tiles and ceramics, Kajaria Ramesh Tiles 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 7th largest tile manufacturer in the world.
This project is dedicated to producing high-quality Kajaria Tiles within Nepal's borders. The state-of-the-art manufacturing plant in the Nawalparasi district will emerge as Nepal's largest tile production facility with an impressive 8 million-square-meter production capacity.
