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DI in Deal with Bank of Baroda
DUBAI - Dubai Industrial City, or DI, has entered into a memorandum of understanding with the Bank of Baroda to finance investors across the light and medium industrial hub.
The MoU was signed by Rashed Al Ansari, vice-president, Dubai Industrial City, and Ashok K. Gupta, chief executive, GCC operations, Bank of Baroda.
“The agreement is an initiative by Dubai Industrial City to support clients across our six industrial zones that will provide investors with financial facilities to meet their requirements. The Bank of Baroda has a tremendous amount of experience in industrial financing, both inside and outside the UAE, and the agreement will give the bank access to a diversified portfolio of industrial projects and contribute positively to the growth and expansion of our destination,” Al Ansari said.
The industrial city has more than 500 industrial clients who are engaged in building various factories across its six industrial zones, along with commercial free hold properties across the commercial areas of the city.
“The bank will be able to help DI clients in setting up their projects from the conceptual stage through execution,” Gupta said.
He stressed that the bank has a full-fledged syndication centre in Dubai and the centre will cater to the important requirements of companies.
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