The Jamaica-based pan-Caribbean NCB Financial Group says that it has sealed a US$ loan to Nabi/KCL Oilfield Construction Services Guyana to partially finance the construction of a “major, new landmark facility” on the East Coast of Demerara.
In an advertisement in today’s Sunday Stabroek, NCB did not disclose the quantum of the loan or name the project but last year the joint venture of Nabi Construction Inc of Guyana and Kee-Chanona Li mited of Trinidad had announced that their joint venture had been awarded a contract to build the new office facilities of ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited at Ogle.
In the advertisement, NCB said that it signed off on the loan to the joint venture through its investment banking and asset and wealth management division, NCB Capital Markets.
The ad noted that Nabi Construction and Kee-Chanona are also collaborating on the Mazaruni Prison expansion project.
Commenting on the signing of the loan agreement, Steven Gooden, Chairman of NCB Global Finance Limited and CEO of Jamaica-based NCB Capital markets Limited said “This is a tangible demonstration of the NCB Financial Group’s extended geographical capabilities. We are pleased to see our regional aspirations bring value to Guyana, our clients and the NCB Group”.
The ad said that the NCB Financial Group has assets of US$12b and a capital base of US$1b and is publicly traded on the Jamaica Stock Exchange and the Trinidad and Tobago Stock Exchange. It says its market capitalization is in excess of US$3.5b and has licensed banking operations in Jamaica, Bermuda, the Cayman Islands and Trinidad and Tobago.
A release on April 4th last year from Nabi/KCL said that the state-of-the-art Campus will be constructed on a green field 15-acre site, comprising two buildings, associated infrastructure and a net zero energy footprint.
The release said the companies were “honoured to undertake this prestigious project for ExxonMobil Guyana and commend the emphasis on local content. We stand committed to growing local companies while delivering this project in accordance with the standards of Safety and Quality that the company is synonymous with.”
