Maldives Fuel distributor receives USD 12 million credit from Sri Lankas NDB Investment Bank


Maldives
PUBLISHED December 18, 2019

Sri Lankas NDB Investment Bank (NDBIB) has arranged a USD12 million loan credit for The Hawks Private Limited, one of the leading companies for the import & distribution of fuel in the Maldives.

Two leading banks in Sri Lanka, National Development Bank Plc (NDB) contributed 7 million dollars while Peoples Bank contributed 5 million dollars for the revolving credit line.

NDBIB Assistant Vice President Sujani Perera, said, "Uninterrupted fuel supply is crucial for the Maldivian economy given its geographical challenges."

Moreover, he commented, "The Hawks, being a leading Maldivian company making its mark outside of the resort sector, has recently invested in developing the necessary infrastructure to improve the overall efficiency in the fuel supply and distribution in the country. NDBIB is privileged to have structured and arranged a USD facility to support The Hawks in its growth journey, harnessing its inbuilt strength and potential within the Maldives and beyond."

Founded by Ahmed Rasheed in 2007, The Hawks has expanded in the fuel supply chain, currently operating 17 vessels in addition to importing and distributing high-quality diesel and petrol. Hawks also operates a boatyard to offer repair and maintaining services for vessels as well as two hotels in Hulhumale and Kamadhoo.


Comments

Please login to Comment


NEWS ARCHIVE