BNP Paribas in US$40m cement loan

BNP Paribas in US$40m cement loan
Published: 16 June 2008

Qatar National Cement Company said it has signed a loan agreement with BNP Paribas for a term loan of US$40m to cover the remaining cost for parts of Plant 4 and other projects in progress.

The cement company is 43 per cent owned by the government of Qatar, 1.3 per cent by Qatar Insurance Company, with the rest, amount to 55.7 per cent, publicly held. It is listed on the Doha Securities Market where it currently sells for QR 157.40, up 3.83 per cent from Thursday. It owns 33 per cent of a gypsum factory in Qatar and 20 per cent of a quarry, also in Qatar. It also has interests in a cement factory in Pakistan.