Nakilat signs $160m financing deals with Al Khaliji

December 24, 2013 - 4:46:37 am

The Managing Director of Nakilat and Chairman of N-KOM and NDSQ, Abdullah Fadhalah Al Sulaiti (second left), and Al Khaliji’s Group Chief Executive Officer, Robin McCall (second right), signing the agreements.

DOHA: Al Khalij Commercial Bank (al khaliji) has financed a total of $160m for two Nakilat shipyard joint ventures, Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ). The bank would fund $120m to N-KOM and $40m to NDSQ.

Signing for the financing was held at Nakilat’s headquarters on December 17 and was attended by senior management of Nakilat, N-KOM, NDSQ and al khaliji.

Managing Director of Nakilat and Chairman of N-KOM and NDSQ Abdullah Fadhalah Al Sulaiti said: “This agreement is a clear demonstration of the strength of our businesses at Erhama bin Jaber Al Jalahma Shipyard. N-KOM’s and NDSQ’s track records are testament to the success of the Emir’s vision for a world-class marine industry within Qatar.”

al khaliji’s Group Chief Executive Officer Robin McCall commented on the financing agreement: “The financing of Nakilat’s on-shore assets consolidates al khaliji’s position as a major player in the marine industry backed by our continued growth, our internationally recognized credit rating, and the trust our clients have placed in us to continue to deliver innovative financing solutions. Nakilat continues to play an instrumental role in establishing the State of Qatar’s marine industry and has built a strategic relationship with al khaliji.” 

“As Qatar continues to generate steady revenues from the hydrocarbon sector to support its plans of diversifying the economy, al khaliji will continue to play an important role in financing Oil & Gas and Marine Industry projects and supporting the country’s solid growth and progress.”

The Peninsula

comments powered by Disqus