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FINANCIAL NEWS
Abu Dhabi’s Arkan wins USD380m credit facility
20 Jun 2012
(MENAFN) Abu Dhabi-based Arkan raised USD380 million loan aimed to help refinancing its maturing debts and funding new projects, Arabian Business reported.
The construction materials firm said that the 78-month credit facility was secured from local lenders, adding that it will generate significant savings in interest cost over the repayment period.
Arkan plans to launch three new business units over the next three years.
Arkan’s current pipeline of projects includes Al Ain Cement Factory, Arkan Lime Plan and Arkan Dry Mortar.
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