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Sunday, 28 May 2017

Dubai's DSI to put aside almost 1 bln dirhams for debt payments -sources | Reuters

Dubai's DSI to put aside almost 1 bln dirhams for debt payments -sources | Reuters:

"Dubai contractor Drake & Scull International (DSI) expects to have nearly 1 billion dirhams ($272 million) of cash flow available over the next four years to partly repay its debt, banking sources told Reuters. The loss-making builder sent non-disclosure agreements to its lenders in April, ahead of planned meetings to discuss the rescheduling of payments on existing debt and to seek support for its 2017-2021 business plan. DSI been battling a depressed Gulf construction market, as governments rein in spending on infrastructure schemes after oil prices declined."



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