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The Emirates Development Bank (EDB), a key financial engine in the UAE’s economic diversification and industrial transformation agenda, has approved a trade finance facility to JLW Middle East for the design and construction of a 60MW data centre in Masdar City, Abu Dhabi.
The facility was signed by Ahmed Mohamed Al Naqbi, CEO of EDB, and Michael Boufarhat, Chairman and CEO of JLW Middle East Dubai.
Regarding the deal, Al Naqbi said: “A key element of EDB’s strategy to empower the country’s industrial sector through direct and indirect financing is that we focus on projects that have a clear developmental impact on the economy and promote the adoption of advanced technologies.”
“The completion of the Masdar Data Centre will enhance the UAE’s digital infrastructure and gradually transition to a mature digital economy, thereby accelerating data sovereignty, data analytics possibilities and other developments in data-centric technologies in the UAE,” he said. .
Al Naqbi noted that in today’s technology-driven economy, data centers are not only critical for successful and continued business operations, but also for the development of an advanced technology ecosystem.
“JLW is one of the leading specialist M&E engineering, procurement and construction contractors in the field, with financing requirements that meet many of our loan eligibility criteria and a high score on our proprietary development scorecard, we are delighted to have support the completion of this state-of-the-art facility,” he added.
Boufarhat said this is an important deal for JLW as it means the company can proceed with the project with the utmost confidence.
As one of the few large specialist MEP contractors in the MENA region, we understand that getting the right financing for this type of project can be a challenging and complex process, but EDB is a flexible and highly competitive solution will ensure that we meet the stringent standards of our customers,” he noted.
“We are delighted to be able to apply our expertise to ensure all elements of this project meet the highest industry standards and deliver another landmark project for the UAE,” he added.arab trade news agency
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