Sumitomo Mitsui Banking Corporation provides credit facility for UltraTech Cement Middle East Investments

Written by Global Cement staff 05 January 2024

UAE: India-based UltraTech Cement has issued a guarantee of US$147m in favour of the Singapore branch of Sumitomo Mitsui Banking Corporation. Reuters has reported that the guarantee is for a credit facility in favour of the producer’s UAE subsidiary UltraTech Cement Middle East Investments.

UltraTech Cement Middle East Investments obtained a majority stake in Duqm Cement in Oman in 2023.

Last modified on 10 January 2024

Published in Global Cement News

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