NPCC is a Public Joint Stock Company owned by the General Holding Corporation (Senaat) which holds a 70 per cent interest and the Consolidated Contractors Group (S.A.L.), which holds the remaining 30 per cent. Since 1973, NPCC’s dynamic growth, its past achievements and new facilities have transformed this National Company into a major international (EPC) contractor, capable of providing the Offshore and Onshore Oil & Gas industry in UAE, The Arabian Gulf & India with complete Engineering, Procurement and Construction.
Waha Capital, the diversified holding company, played a key role in the transaction by providing financial advice to NPCC.
The propose financing structure is a two-plus-five (2+5) years to fully finance one new Jack up Vessels (SEP 550) for NPCC. NBAD will finance 100 per cent of the cost of the construction for two years and will enter into a 5-years bilateral finance with NPCC.
The agreement was signed at NBAD offices by Aqeel A. Madhi, Chief Executive Officer of NPCC and Mark Yassin, Senior General Manager, Global Banking at NBAD.
Read more: http://www.cpifinancial.net/news/category/commercial-banking/post/18602/nbad-and-npcc-sign-100-million-deal
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