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$1.1 billion Islamic finance deal for Emirates Steel

Posted on 07 September 2010

In the largest project finance deal in the UAE, Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, led the Islamic Tranche of the AED 4.0 billion (US$1.1 billion) Project Finance Facility for Emirates Steel Industries, the UAE’s leading steel maker. Further, ADIB anchored the Facility with an AED 920 million funding, the largest participation.
Emirates Steel Industries sought the facility to expand its steel production capacity and diversify its product offering as part of its strategic plan to become one of the largest integrated steel manufacturers in the region, in line with Abu Dhabi’s vision 2030……………………………………….Full Press Release: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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