Cairo – Mubasher: Maridive and Oil Services is targeting investments between $250 million and $275 million over the coming 5 years.
The offshore marine and oil support services provider will achieve this target through using various financing channels such as bonds or capital hike, according to a statement to the Egyptian Exchange (EGX) on Sunday.
Maridive's board of directors decided to purchase around 12 to 14 marine units at a value of $225 million to $245 million, the statement added.
The Egypt-based company last posted a $3.67 million profits in the three months ended September 2017, up from EGP 2.46 million in the prior-year period.
Maridive aims at completing the construction of Fabrucation yard in Abu Dhabi’s industrial zone by 2018 at a cost of $15 million to $18 million, the firm indicated.
Maridive’s capital amounts to $163.8 million distributed over 409.6 million shares at par value of $0.4 per share.
