Middle East Economic Survey
VOL. XLVII
No 42
18-October-2004
ENERGY FINANCE
ADCB Signs $40mn Agreement To Finance Djibouti Storage Terminals
Abu Dhabi Commercial Bank (ADCB) announced on 6 October it has signed a $40mn financing agreement with Horizon Djibouti Terminals Ltd (HDTL) to build a bulk liquid storage facility near Djibouti Port on the Red Sea. Project costs are approximately $58mn of which ADCB, the sole financer, is covering 70%. The terminal, to be completed by June 2005, is being...
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