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Pipe maker Jindal Saw’s subsidiary Jindal Saw Middle East FZC (JSME) has closed a club facility of about ₹775 crore for its long term requirements.
JSME has a large facility in Abu Dhabi (UAE) to produce ductile iron (DI) pipes. It also provides techno-economic products and solutions for water transportation and sewage systems in the wider MENA region.
JSME has the approval for supply of its DI pipes from many Middle East and North Africa countries. The Commercial Bank of Dubai PSC, Commercial Bank International PSC, Emirates NBD PJSC and Mashreqbank PSC acted as mandated lead arrangers and book runners. Alpen Capital (ME)was the financial advisor to the transaction.
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