UAE based TALEX eyes $150 million loan to replace bridge financing

AL Circle

Taweelah Aluminium Extrusion Company LLC (TALEX), the Middle East’s most advanced aluminium extrusion plant, is in discussions with regional and international banks for a working capital facility, Stylianos Tsoktouridis, general manager of TALEX, told to Reuters.

news

{alcircleadd}

According to the source familiar with the matter, the loan is estimated to be around $150 million. With this loan, TALEX expects to replace a bridge financing which the company raised in 2014. The 2014 loan is expected to be matured this summer. Abu Dhabi- and Dubai-based lenders are likely to support theloan.

TALEX, a greenfield project, which started operating in February 2016, has a production capacity of 50,000 tonnes of aluminium extrusion. It is located in Abu Dhabi’s Khalifa Industrial Zone.

{googleAdsense}

TALEX is a joint venture between Abu Dhabi’s SENAAT and the Al Ghurair Group’s Gulf Extrusions. The plant offers casting, extrusion, surface treatment and fabrication services to international customers.

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals

Alternate Text
CETAG

A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.

Alternate Text
IBAAS​-IIM 2024

September 25-27, 2024 | BITS Pilani K K Birla Goa Campus, Goa, INDIA

Related
Business Leads
Interested to buy aluminium engine block scrap as per ISRI s...
06-Apr-2024 Buying request

Interested to buy aluminium 6063 scrap. Destination: Surat,...
02-Apr-2024 Buying request

Interested to buy aluminium dross both soft and hard. Desti...
02-Apr-2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads