Abu Dhabi – Mubasher: ENOC Group has secured a three-year, unsecured general corporate purposes Revolving Credit Facility (RCF) of $500 million
The group got the loan from Emirates NBD, ABN AMRO Bank, DBS Bank, Gulf International Bank, Citi, Standard Chartered Bank, and BBK.
The RCF aims to support the group's growth over the next few years.
“Over the next five years, the group will focus on expanding capacities to support domestic energy demand in alignment with Dubai Plan 2021 and in preparation for Expo 2020,” according to ENOC Group’s CEO Saif Humaid Al Falasi.
“This includes a 50% capacity increase of ENOC's Jebel Ali refinery to reach 210,000 barrels per day, as well as the construction of Project Falcon's 16-kilometre jet fuel pipeline extension to Al Maktoum International Airport by end of 2019,” Al Falasi added.
