The National Bank of Kuwait (NBK) recently announced a financing agreement with The Kuwait Styrene Company (TKSC) to provide the styrene monomer producer with $280 million in credit facilities for general purpose spending.
NBK Kuwait CEO Salah Al-Fulaij and his TKSC counterpart, Adel Yousuf Al-Saad Al-Munifi, signed the agreement.
“(This is) yet another demonstration of NBK’s leading role as facilitator of economic development in Kuwait,” Al-Fulaij said. “It demonstrates once again how committed we are to fostering the spirit of national enterprise in Kuwait.”
Al-Fulaij discussed NBK’s roles as a bank with strong history at the local, regional and global levels. He believes it has earned the trust of large corporations and national companies in Kuwait.
Al-Munifi noted that his company will use the credit facilities to reinforce activities that enhance its competitive edge.
“The very fact that we were able to secure credit facilities on such a scale speaks volumes of TKSC’s competitive status, and says a great deal about our solid financial standing,” Al-Munifi said.