Dubai’s ENOC gets $230m loan from China’s ICBC
The five-year loan will help ENOC fund new projects and expansion plans
Emirates National Oil Company (ENOC) has secured a $230m unsecured loan from Industrial and Commercial Bank of China, it said on Tuesday.
The five-year loan will help ENOC fund new projects and expansion plans, it said in a statement.
ENOC, a downstream-focused firm owned by sovereign fund Investment Corporation of Dubai, operates service stations, fuel terminals and oil tankers and operates in the Middle East, North Africa and Asia.