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FINANCIAL NEWS
Dubai’s ENOC acquires USD 320mn loan from China
15 Jun 2016
(MENAFN) Emirates National Oil Co. (ENOC) has obtained a USD 320mn loan from the Industrial and Commercial Bank of China.
Additionally, the loan is part of the firm’s funding strategy which was organized at competitive and flexible terms.
Moreover, the loan will boost the contribution of the state-owned company to UAE’s and Dubai’s economic development.
On the other hand, ENOC revenues grew by 45 percent over the last five years, reflecting strong operational and sales performance.
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