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Empower secures $127.8m loan from Dubai Islamic Bank

Mon, 2014-09-15 13:08 — newsdesk

Empower, the district cooling company, has secured a $127.8 million (Dh469.4 million) loan from Dubai Islamic Bank (DIB). The loan facility, to be paid back over half yearly instalments over five years, will be used to fund Empower’s district cooling area in Dubai’s Business Bay area. Empower said that the loan is a cost-effective measure to sustain company growth. The loan is the first Islamic financing facility taken out by Empower.

Source: 

http://gulfnews.com/business/general/empower-secures-127-8m-loan-from-du...