UAE Ras al-Khaimah cement manufacturer Union Cement has secured a $100m loan to be extended by Jordan-based Arab Bank and a number of regional banks, it was reported on June 27, 2005. The loan is to be repaid over seven years and will be used to partly finance the company’s $145m project for a new clinker facility. The new facility is expected to produce some 3Mta of clinker. At present, Union Cement has the capacity to produce a total 1.35Mta of clinker and 1.65Mta of cement. The Government of Ras al-Khaimah owns 45 per cent of Union Cement, while 20 per cent is held by the state-run Abu Dhabi Investment Authority (ADIA). Published under Cement News
UAE Ras al-Khaimah cement manufacturer Union Cement has secured a $100m loan to be extended by Jordan-based Arab Bank and a number of regional banks, it was reported on June 27, 2005. The loan is to be repaid over seven years and will be used to partly finance the company’s $145m project for a new clinker facility. The new facility is expected to produce some 3Mta of clinker. At present, Union Cement has the capacity to produce a total 1.35Mta of clinker and 1.65Mta of cement. The Government of Ras al-Khaimah owns 45 per cent of Union Cement, while 20 per cent is held by the state-run Abu Dhabi Investment Authority (ADIA). Published under Cement News
Sign up for our Daily News Service
Our editors' pick the top news delivered to your inbox each day.
Sign up for the daily email