Baku, Azerbaijan, Apr. 21
By Anvar Mammadov - Trend:
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) is considering providing a senior loan of up to $20.4 million to Caspian Marine Services Limited ('CMS') May 25, 2016, according to the EBRD website.
CMS is an oil and gas services company, which operates a fleet of offshore supply vessels in the Caspian Sea, mainly Azerbaijani territorial waters.
The loan within the framework of the 'Fast crew boat financing' project will be used to finance part of the acquisition costs of a new fast crew boat to be operated in territorial waters of the Caspian Sea, the message of the EBRD said.
The total cost of the project is $34 million, some $20.4 million of which account for the share of the EBRD.