Uzmar secures €millions to expand shipyard

'KOC Musaned – 2' is shown prior to launching at the UZMAR shipyard

Turkish shipbuilder Uzmar has secured ‘a strategic milestone’ of financing to expand its pilot and tug vessel building facilities, the company says.

The Germany-based AKA Export + Trade Bank has agreed to loan Uzmar €28 million over 10 years to ‘enable Uzmar to significantly increase its capacity for the construction of pilot and tug vessels,’ Uzmar says. The loan will be backed by insurance company Allianz Trade, formerly known as Euler Hermes.

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