IslamicFinance.de

UAE's Emirates Steel Industries, which controls a majority of the country's steel market with an annual output of two million tons, on Wednesday secured a $1.1 billion loan from a group of regional banks as it seeks to expand its production capacity.
The Abu Dhabi-based firm, the operator of the largest steel plant in the UAE reached a seven-year project financing agreement with a consortium of seven conventional banks and two Islamic finance institutions.
The conventional banks in the consortium are the National Bank of Abu Dhabi, Union National Bank, First Gulf Bank, Bank of Baroda, Arab Banking Corporation, Al-Khaliji France and Al-Khalij Commercial Bank. The two Islamic finance institutions are the Abu Dhabi Islamic Bank and Al-Hilal Bank.