Sri Lanka’s NDBIB arranges US$12mn credit for Maldives fuel distributor

CLUB DEAL: NDBIB CEO, Darshan Perera exchanging the Facility Agreements with the Chairman/Founder of The Hawks Private Limited, Ahmed Rasheed Hassan.

ECONOMYNEXT – Sri Lanka’s NDB Investment Bank said it arranged a 12 million dollar credit for The Hawks Private Limited, an importer and distributor of fuels in the Maldives.

National Development Bank had contributed 7 million US dollars and People’s Bank had given 5 million US dollars for the revolving credit.

“Uninterrupted fuel supply is crucial for the Maldivian economy given its geographical challenges,” Darshan Perera chief executive of NDBIB said in a statement.

“This is another landmark transaction adding to NDBIB’s cross-border profile showcasing our capacity and unwavering commitment towards a strong footprint in the region.”

Sujani Perera, Assistant Vice President of NDBIB said Hawks was one of the top companies in the Maldives which is outside the resort sector.

The Hawks was founded by Ahmed Rasheed Hassan in 2007 and now has 17 vessels and fuel storage tanks totalling 30,000 metric tonnes in Thilafushi Island.

It has a 20 metre berth which can discharge 15,000 metric tonnes per day. Hawks also has boatyard offering repair facilities and two hotels in Kamadhoo and Hulhumale. (Colombo/Dec19/2019)

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