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FINANCIAL NEWS
Oman-Meethaq inks financing deal with Safe Alloys
19 Jun 2017
(MENAFN) Meethaq Islamic Bank has inked a financial deal with Safe Alloys, a Sohar Free Zone firm, which aims to launch a low carbon ferro chrome production plant in the zone.
Meanwhile, the deal falls amid the plan of the Islamic Bank to offer banking and financial services complying with Islamic Sharia principles for individuals and institutions.
Moreover, the investment cost of the project is almost USD14mn and will be launched over an area of 56.000 square meters, which will be the first of its kind in the Mideast.
In addition, the second phase, which is projected to start amid the coming five years, will witness an investment of almost USD18mn and offer 150 jobs.
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MENAFN1906201700450000ID1095566510
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