EIB approves loan for cement firm

EIB approves loan for cement firm
Published: 05 April 2006

The European Investment Bank, Luxembourg has approved a Euro 35 million seven-year term loan facility for DG Khan Cement Company Limited to facilitate the expansion of its Khairpur cement plant, said a press release here on Tuesday. DG Khan Cement is one of Pakistan’s leading cement manufacturers, and a part of the Nishat Group of Companies.

This financing facility has been arranged and structured by ABN AMRO Bank through a guarantee facility. This guarantee facility is in turn 85 per cent secured by an Eksport Kredit Fonden, EKF, Danish Export Credit Agency, Guarantee.

On this occasion, Mr Jean-Louis Biancarelli, director general of European Investment Bank (EIB) attended a simple but impressive commemorative ceremony held at a local hotel. Dr Shamshad Akhtar, governor of the State Bank of Pakistan (SBP), was the chief guest at the occasion. staff report