Dubai's ship building unit Drydocks World has secured the necessary level of support from its syndicated lenders to implement the restructuring of its $2.2 billion debt, the company said in a statement on Saturday.
The Dubai World unit
Drydocks World (DDW), a unit of debt-ridden Dubai World, expects to complete the restructuring of a $2.2 billion loan by April 30, its chairman said on Tuesday.
"We are in the final stages of restructuring for the Dubai
Drydocks World – Dubai, the ship repair, conversion and building subsidiary of Dubai World, has won the 'Lloyd’s List Middle East Shipyard of the Year Award' for 2008.
This is the fourth consecutive win for the company, said a top