UAE Ras al-Khaimah cement manufacturer Union Cement has secured a $100m loan to be extended by Jordan-based Arab Bank and a number of regional banks, it was reported on June 27, 2005. The loan is to be repaid over seven years and will be used to partly finance the company’s $145m project for a new clinker facility. The new facility is expected to produce some 3Mta of clinker. At present, Union Cement has the capacity to produce a total 1.35Mta of clinker and 1.65Mta of cement. The Government of Ras al-Khaimah owns 45 per cent of Union Cement, while 20 per cent is held by the state-run Abu Dhabi Investment Authority (ADIA). Published under Cement News
UAE Ras al-Khaimah cement manufacturer Union Cement has secured a $100m loan to be extended by Jordan-based Arab Bank and a number of regional banks, it was reported on June 27, 2005. The loan is to be repaid over seven years and will be used to partly finance the company’s $145m project for a new clinker facility. The new facility is expected to produce some 3Mta of clinker. At present, Union Cement has the capacity to produce a total 1.35Mta of clinker and 1.65Mta of cement. The Government of Ras al-Khaimah owns 45 per cent of Union Cement, while 20 per cent is held by the state-run Abu Dhabi Investment Authority (ADIA). Published under Cement News
![Daily Email](/images/cemnetairmail.gif)
Sign up for our Daily News Service
Our editors' pick the top news delivered to your inbox each day.
Sign up for the daily email