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FINANCIAL NEWS
Gulf Drilling secures USD430m loan
09 Jun 2011
(MENAFN) Gulf Drilling International Limited’s (GDI) chairman, Saad Sherida Al-Kaabi, said that the company inked a credit deal worth USD430 million with three commercial banks, reported Arabian Business.
Al-Kaabi said that the loans would be utilized for expanding the company’s operations including two new hi-spec premium jack-up rigs, two new land rigs and the acquisition of a jack-up accommodation barge. The value of the expansion was estimated at USD538 million.
It is worth noting that the acquired credit should be paid over the course of ten years and four months.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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