"Sir Marine" You get financing of 760 million dirhams from "Abu Dhabi Commercial"
Abu Dhabi, July 9 / WAM / Al -Sir Company for Marine Equipment and Supplies, which is affiliated with the International Holding Company, announced that it has obtained financing facilities worth 760 million dirhams (207 million US dollars) from Abu Dhabi Commercial Bank, explaining that securing this eight -year facilitation was through the first degree mortgages on a selection of operating ships, to raise the efficiency of the company’s capital and the enhanced growth strategy With assets.
Abu Dhabi Commercial Bank assumed the role of the only subscriber and the main coordinator for finance, and provided facilities on the conditions of facilitated and competitive payment, to be the second main deal of its kind between the two institutions; In early 2025, the bank provided a financing facilitation of 210 million dirhams “$ 57 million” to “IBI” shipping company registered in the free zone, which represents a joint project between Sir Marin and “B” shipping company, to acquire two tankers of liquefied petroleum gas of small and medium size.
Jay Nevins, CEO of Al -Sir Magazine and Supplies, said that the company is working hard to improve its capital structure and raise the efficiency of liquidity and cash flows, to enhance its ability to develop high -value growth opportunities, noting that this financing facilitation will contribute to enabling the company to keep pace with the comprehensive investment of the UAE’s investment vision in liquefied natural gas sectors and liquefied oil gas and crude oil production And petrochemical products.
He added that the continuation of the partnership between “Al -Sir” and Abu Dhabi Commercial Bank confirms the bank’s confidence in the company’s strategy and long -term investment plans, pointing out that it continues to expand its strategic cooperation with the most prominent local and international financial institutions; She became a reliable partner with a number of major leading local financing agencies, and launched a strategic partnership with prestigious international financing institutions.
The company has employed its financial institutions perfectly in building and developing its modern fleet with the best future technologies, in addition to investing in a number of strategic sectors, including building warships, developing self -driving boats, in addition to 3D printing facilities, the largest of its kind in the world.
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