09 November 2009
International law firm Lovells has advised a subsidiary of Lafarge on the project financing related to a $682 million (Dh2.5bn) cement plant in northern Syria.
This is believed to be the first project financing to have closed in the country.
The project finance loans amount to $341m and have been provided by an international syndicate of lenders including EIB, Proparco, EKF and Bank Audi. The funding was provided to one of Lafarge's subsidiaries, Lafarge Cement Syria, enabling the refinancing of a bridge facility and the completion of the project's construction phase.
International law firm Lovells has advised a subsidiary of Lafarge on the project financing related to a $682 million (Dh2.5bn) cement plant in northern Syria.
This is believed to be the first project financing to have closed in the country.
The project finance loans amount to $341m and have been provided by an international syndicate of lenders including EIB, Proparco, EKF and Bank Audi. The funding was provided to one of Lafarge's subsidiaries, Lafarge Cement Syria, enabling the refinancing of a bridge facility and the completion of the project's construction phase.
By Staff Writer
© Emirates Business 24/7 2009
