March 24, 2014
-- CIMENTERIE NATIONALE S.A.L is due to sign a contract for a five-year long-term loan agreement worth US$172.4m from the Riyad Isa Development Corporation, Damascus, Syria to increase production capacity and utilise coal.
Unlike most investors and finance institutions, Riyad Isa Development Corporation provides years of experience, broad professional expertise, and creative finance ideas to their services. By relieving some of the burden to locate financing for their projects, clients can focus more on the success of their business. This is especially beneficial in markets where great projects cannot take advantage of local bank finance products because the costs to use these banks are too prohibitive in many emerging market climates.
Mr. Adib El-Hashem, member of the board of directors, CIMENTERIE NATIONALE S.A.L revealed that the company will spend LBP 130b on expanding its factory and investing in new technology to increase capacity, according to AlMal Newspaper.
The rest of the loan will be used to buy equipment to grind and ignite coal, for which the company is negotiations with European suppliers.