The Dubai district cooling specialist Empower is raising Dh1 billion (US$3.67bn) for new projects as the company gears up for expansion.
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Empower said it had already raised Dh600 million in loans from one local and one international bank and it was in discussions with another local bank to raise a further Dh400m.
The joint venture between Dubai Technology and Media Free Zone (Tecom) Investments and Dubai Electricity and Water Authority (Dewa), which celebrates its tenth birthday this year, said that it had paid down its original Dh1.3bn in outstanding loans to Dh480m.
Read more: http://www.thenational.ae/business/energy/dubai-cooling-specialist-empower-raising-cash-for-expansion#ixzz2MAGzPjsO
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