SAIB: PMS.Co Egypt Obtains $50 Mln Loan from 3 Banks

Societe Arabe Internationale de Banque (SAIB), has finalized from signing the final contracts of the loan of Petroleum Marine Services Co.(PMS) which reached $ 50 million in participation with Arab International Bank (AIB) and Al-Baraka Islamic Bank.

An official source told Amwal Al Ghad that the final shares distributed by $ 20 million for each of SAIB and AIB, whereas Al-Baraka participated with $ 10 million.

PMS’s loan is aiming to develop marine equipment company and to continue its expansion within the coming period to buy new equipments.

PMS is a major construction & marine services contractor in Egypt and MENA.

The Petroleum Marine Services (PMS) founded in 2001 to be the premier Egyptian offshore service company in order to increase the return on our net investment during the fiscal year, improve the efficiency of the manufacturing process and to produce oil and gas.