Saudi's ACWA Power gets $344 mln loan for Dubai solar project

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Saudi Arabia's ACWA Power is obtaining a loan of about $344 million from three banks to finance a solar energy project in Dubai, chief executive Paddy Padmanathan said on Sunday. The 27-year amortising loan with an interest rate of 4 percent is being provided by Abu Dhabi's First Gulf Bank and two Saudi banks, National Commercial Bank and Samba Financial Group, he told reporters on the sidelines of a business conference.

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