Dubai, UAE
The ten year loans amounting to AED 368 million and USD 50 million contribute to the financing of a major upgrade and retrofit project being carried out by DUBAL. The project, known as Kestrel, with significant contracts being placed with Dubai's private sector, will boost the local economy.
Commenting on the new agreements with DUBAL, Sunil Kaushal, Head of Corporate Banking, UAE of Standard Chartered Bank said, "DUBAL is a key customer relationship for Standard Chartered in the Middle East. Our participation in financing the Kestrel project and recently secured mandate for cash management solutions for the company further enhances our commitment to grow our relationship with DUBAL"
Standard Chartered is one of DUBAL's relationship banks that are participating in the financing of the project through bilateral loans.
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DUBAL finalises 10 year loans with Standard Chartered
- United Arab Emirates: Wednesday, July 03 - 2002 at 10:56
- PRESS RELEASE
DUBAL's Chief Executive Officer, John Boardman and Chief Financial Officer, Tony Sole, yesterday signed Loan Agreements with Andrew Duff, Chief Executive Officer UAE, and Sunil Kaushal, Head of Corporate Banking UAE of Standard Chartered Bank.
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Notes and media contacts
For further information, please contact :Mohammed Yahya
Manager Corporate Affairs
DUBAL
Tel No : 04 8022926 / Mobile : 050 4545127
Alex Blake Milton
Regional Head of Corporate Affairs, MESA
Standard Chartered Bank
Tel No : 04 5088150 / Mobile : 050 5524946
www.standardchartered.com
Posted by Anne-Birte Stensgaard, News EditorWednesday, July 03 - 2002 at 10:56 UAE local time (GMT+4)
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This article was updated on Mon May 31 2004.
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