ZAWYA: Kuwait contractor HEISCO renews $45mln loan facility

About this update from Heavy Engineering Industries & Shipbuilding Co. (ksc)

Staff WriterThe Kuwait-based Heavy Engineering Industries and Shipbuilding Co. (HEISCO) has renewed a 14 million dinars ($45.4 million) credit facilities agreement with a local bank in the Gulf state.HEISCO said in a bourse filing, the facility will be used to finance the operational activities.This is the second loan facility renewed by the contractor this month, with the earlier facility amounting to KD 96.06 million.The engineering and shipbuilding firm has secured a number of contracts in the first half of this year, including one in April from the state-backed Kuwait Oil Company amounting to $565 million. (Writing by Bindu Rai, editing by Seban Scaria)[email protected]: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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