UAE Gulf Cement Gets $41.7m loan

UAE Gulf Cement Gets $41.7m loan
Published: 25 November 2004

UAE cement maker Gulf Cement Company, based in the emirate of Ras-al-Khaimah, has secured a loan worth 153 mln UAE dirhams ($41.7m) from Jordan-based Arab Bank, it was reported on November 24, 2004. The company will use the loan to finance part of its expansion project,  which is estimated at some 370 mln dirhams ($100.7m). The loan agreement was signed between Gulf Cement chairman, Sheikh Omar bin Saqr al-Qasimi, and the manager of Arab Bank in Ras al-Khaimah, Ali Deeb Zatar.