ADT announced today a financing agreement with Abu Dhabi Commercial Bank (ADCB) for the development of Khalifa Port Container Terminal (KPCT). The AED 300 million agreement marks the first long-term finance solution for ADT, and extends ADCB’s relationship with the terminal operator to support ADT’s ambitious growth strategy and contribute to its local and global competitiveness, the company said in its press release.
ADCB‘s facilities will be utilized primarily for capital expenditure, corporate services, and the re-financing of an existing short-term bridge loan.