Emirates Aluminium said to seek US$300 million from Kexim
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Mon July 9, 2012 2:05 pm

UAE. Emirates Aluminium Co., an Abu Dhabi- based smelter, is in talks with Export-Import Bank of Korea for a loan of as much as $300 million to help finance its expansion, according to two people familiar with the matter.

The lender, known as Kexim, supports projects in which Korean companies are involved and is considering a loan of US$200 million to US$300 million, the people said, declining to be identified because the discussions are private. The bank conducted the first due diligence on the project last week, said one of the people, an official at the Seoul-based state bank.

Emirates Aluminium plans to spend US$4.5 billion to boost annual output to 1.3 million metric tons by 2014 from 800,000 tons. The company, also known as Emal, expects to close financing by the end of the year, Chief Executive Officer Saeed al-Mazrooei said in an interview last month.

Mubadala Development Co. and Dubai Aluminium Co., Emirates Aluminium’s owners, want to arrange financing from export credit agencies before they seek commercial funding, a third person familiar with the project said.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 27, 2016
UAE. The report predicts that residential sale prices will decline further in Dubai for the balance of 2016, but that this rate of decline will slow, as value and affordability returns to the market.
date:Posted: September 26, 2016
UAE. According to The Boston Consulting Group, today, 7% of all FinTech companies in the Middle East and Africa are concentrated in the GCC.
date:Posted: September 22, 2016
INTERNATIONAL. The switch to renewable energy has already been flicked. Smart utilities willing to drive change will prosper - but it's going to take the turning off of a lot of old paradigms to do so.
UAE. The report predicts that residential sale prices will decline further in Dubai for the balance of 2016, but that this rate of decline will slow, as value and affordability returns to the market.
dhgate
cheap wedding dresses on Ca-Dress.com