Gulf News

Mazroui teams with up Nimasco Agua Tabreed in $100m finance deal

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Mazroui Supplies Contracts and Maintenanc­e Establishm­ent (MSCM), an Abu Dhabibased company, has signed a collaborat­ion agreement with Nimasco Agua, based in Europe, to introduce an environmen­t-friendly technology for waste, wastewater and soil treatment in the newly developed areas in the UAE and other Gulf countries. Under the agreement, Nimasco will provide to MSCM the eco-bio technology known as the developed by it in the wastewater treatment and package sewerage plants to be installed in new project areas or existing plants.

Tabreed, the Middle East’s award-winning district cooling pioneer, has signed a $100 million revolving credit facility with a group of financiers led by BNP Paribas to fund further expansion of the company’s operations. The facility has an initial maturity of one year and is subject to two 12 month extension options at each lender’s discretion. The facility has a margin of 45 basis points (bps) per annum and a commitment fee of 13.5 bps per annum. The extension fee where applicable will be five bps flat.

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