Proclad Group Limited (“Proclad”), the world’s leading provider of protective weld cladding to the oil and gas sector, has appointed QInvest, Qatar’s leading investment bank, as its exclusive financial advisor to arrange a multi-tranche syndicated financing for the expansion of its UAE facilities and to fund future projects. The signing ceremony was attended by Mr. Yaseen Jaafar, CEO of Proclad, and Mr. Asar Mashkoor, head of investment banking at QInvest, who signed the agreement on behalf of their respective organizations at Proclad offices.
Speaking on this occasion, Mr. Yaseen Jaafar said: “We are pleased to announce this transaction with QInvest which represents an important step in the second phase development of our world class cladding facility here in the UAE. This funding will allow us to fully exploit the current market opportunities available to us”.
Mr. Asar Mashkoor said: “We are delighted to sign this agreement with Proclad, who are pioneers in their field. We look forward to assisting Proclad finance their growth plans and developing a solid and long term partnership with them in the future”.
- Ends -
About the Proclad Group Limited
With a global presence, Proclad is a multi-disciplined engineering and manufacturing group of companies. In the Middle East, Proclad provides specialist engineering services to the oil and gas sector, and is the worldwide market leader in the protective weld cladding of pipeline and associated components.
About QInvest
QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. The firm has authorized capital of USD 1 billion and paid up capital of USD 750 million.
The QInvest shareholder structure includes Qatar Islamic Bank and other institutional investors, as well as prominent high net worth individuals from across the region. The platform offers a broad range of expertise which enables QInvest to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs. The firm’s talented team of investment bankers brings a valuable mix of both international experience and regional knowledge, enabling the firm to pursue opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.
Contacts
Proclad Group Limited
Mark Downie
Dubai, UAE
Tel: 0097148704050
QInvest
Bassel Hanbali
Head of Marketing & Corporate Communications
Doha, Qatar
Tel: 0097466542099
No comments:
Post a Comment