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Dubai raises $675 mln financing for Al Sufouh tram project

Posted on 23 February 2012

Dubai’s Department of Finance raised $675 million from a dual-currency financing to complete phase 1 of the Al-Sufouh Tram project in the emirate.
The facility comprises a $401 million loan which will amortize over 10 years from 2015, the government’s Media Office said in an e-mailed statement today. The second portion is a six-year $274 million Islamic Ijara facility, split equally in dollars and dirhams, and amortizing over three years from 2015………………………………………..Full Article: Source

 
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