Dubai Investments secures Dh300m loan from DIB
Dubai Investments has secured only a quarter so far of the Dh1.2 billion ($326.7 million) loan it wanted to raise. Because of the political unrest the conglomerate’s manufacturing business is facing setbacks.
In April, the firm said it was in bank talks for a Dh1.2 billion loan to expand its operations, which was to be finalised by May. The loan was going to be used for the expansion of Emirates Float Glass, its glass manufacturing unit in Abu Dhabi and to complete the last phase of its industrial development Dubai Investment Park.