KAEC Port to get $1.4 billion capital hike by Emaar unit

Finance and Related Services

The shareholders of the Emaar The Economic City have sanctioned a plan to raise around (SR5.2bn) so it can invest in the extension of the port at King Abdullah Economic City.tender

According to the company, capital of $700mn (SR2.6bn) would be utilised to increase its stake in the Port Development Company at King Abdullah Economic City (KAEC). This would further improves its share in the firm to just over 50%, while the remainder of the shares held by the joint venture partner Huta Marine holding.Read complete story at http://www.tendersontime.com/blog-detail/kaec-port-get-14-billion-capital-hike-emaar-unit-123.php