Al Khaliji Commercial Bank has financed a total of USD 160 million for two Nakilat shipyard joint ventures, Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ). The bank would fund USD 120 million to N-KOM and USD 40 million to NDSQ.
Signing for the financing was held at Nakilat’s headquarters on 17th December and was attended by senior management of Nakilat, N-KOM, NDSQ and Al Khaliji.
Managing Director, 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 onshore assets consolidates Al Khaliji’s position as a major player in the marine industry backed by our continued growth, our internationally recognised 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