Bank Of Baku

Palmali receives a $183 million loan

Palmali receives a $183 million loan
# 03 November 2008 10:47 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Germany’s HSH Nordbank and DVB Bank have extended a $183 million loan to Palmali.
Palmali said the proceeds of the loan will go to the procurement of three oil tankers.
It is planned to buy a Suezmax tanker of 165 000 metric tons of deadweight (DWT) and two Aframax tankers of 105 000 DWT each, said Mubariz Mensimov, President of Palmali Group of Companies.
The initial amount of the loan will be raised to $2 billion later.
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