Creditor banks formulating revival plan for emirates steel pipes

Emirates Steel Pipe Industries Ltd in Jebel Ali Free Zone. Creditor banks are formulating a revival plan for following its shut-down in November. The International Investor (TII), a Kuwait-based investment bank, and major shareholder in Emirates Steel Pipe, might also pump in additional capital . Total outstanding of the company is believed to be in excess of Dh20 million. 

Click here to see more headlines