Dubai-based district cooling firm Empower will tap local banks to raise Dh500 million ($136 million) loan for the establishment of its upcoming projects in the local market.
The company is currently negotiating a Dh500-million loan deal with banks and hopes to close it in April-May, said its Chief Executive Ahmed Bin Shafar. He, however, refused to disclose the name of the banks.
These funds will be used to set up new district cooling plants in the UAE including two in Dubai’s Business Bay area this year.
No comments:
Post a Comment