KNM gets RM134 mil loan from EXIM Bank

by **hlk** Thu 16 May 2013, 14:28

Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 16 May 2013 13:45
A + / A - / Reset

KUALA LUMPUR (May 16): KNM GROUP BHD [] has obtained a loan
facility worth US$44.6 million (RM134 million) from Export-Import Bank
of Malaysia Bhd. The funds will part finance the process equipment
manufacturer's project in Tatarstan.
In a statement to Bursa Malaysia, KNM said the loan aims to guarantee
KNM’s contract performance for the supply of a sulphur-recovery unit in
a residue -conversion facility within the Central Asian country.
"The tenure for the banking facilities is up to a maximum period of thirty
(30) months or up to the date of completion of the contract, whichever is
earlier," KNM said.
KNM said last February it had secured the US$100.03 million (RM308.6
million) job from Public Stock Company TAIF-NK.
The contract is expected to contribute positively to KNM’s financials for
the years ending Dec 31, 2013 to 2015, the firm said then.