EIB sanctions Dh173m loans

ABU DHABI — Emirates Industrial Bank (EIB) yesterday sanctioned loans amounting to Dh173 million to five industrial projects in the sectors of building materials, metal works and plastics.

By A Staff Reporter

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Published: Wed 12 Jul 2006, 11:04 AM

Last updated: Sat 4 Apr 2015, 3:08 PM

The Board of Directors of Emirates Industrial Bank convened its meeting yesterday under the chairmanship of Dr. Mohammed Khalfan bin Kharbash, State Minister of Industrial & Financial Affairs, Chairman of the bank.

According to Mohamed Abdulbaki, General Manager of the bank, the meeting approved the agenda and attesting the minutes and resolutions of the previous board meeting.

He added that after discussions amongst the board members, the board approved loans and facilities amounting to Dh173 million to five industrial projects in the sectors of building materials, metal works and plastics. These projects produce precast concrete products including traditional concrete precast, glass reinforced concrete precast and prestressed concrete precast.

These products are preferred to the conventional construction methods due to the fact that they are flexible, easy to install, save construction time, in addition to strength and high precision in design.



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