Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) has closed a single currency term and letter of credit syndicated transaction amounting to $100 million, according to a press release.
The financing deal will enable Pure Cement LLC to construct a clinker production unit with a capacity of 6,500 tonnes per day (TPD) and an 8.50 megawatts (MW) Waste Heat Recovery-based captive power plant.
The financing will be used for the procurement of plant, equipment, and fixed assets needed to implement the project, which is valued at $135.97 million.
NBF acted as the arranger and security agent, leading the transaction in collaboration with Emirates NBD and the National Bank of Ras Al Khaimah (RAKBANK), which contributed $25 million, each.
Adnan Anwar, CEO at NBF, noted: “As the lead banker, we go beyond financing—we serve as a strategic partner, delivering tailored financial solutions that drive long-term success and strengthen our reputation as a trusted financial partner across the region.”
NBF recently inaugurated the NBF Direct mobile app with UAE Pass to drive digital innovation and customer-centric banking.
