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DUBAI / WAM
Empower, the world’s largest district cooling services provider, has settled its semi-annual loan instalment two months before its maturity on Dec 31. The pre-settled loan instalment amoun-ting to AED147 million forms part of Empower’s syndicated loan facility from a consortium of international and local banks and financial institutions.
Ahmed bin Shafar, CEO of Empower, said, “Empower has always been prudent and strategic when investing in plants and network infrastructure based on actual demand. The company has recorded steady and sustainable growth as a result of this effort, enabling us to meet our commitments as per agreed timelines. Presently, we have significant capital expenditures needed to expand our capacity in various projects such as Jumeirah Village South, International Media Production Zone, IMPZ, Business Bay, and Dubai Land, amongst others.â€