(MENAFN - Qatar News Agency) The Gulf International Services company (GIS) announced Monday that it has entered into a joint Islamic financing agreement of US 170 million (equivalent to QR 618.8 million).
According to a statement published on the (Qatar Exchange) website, the GIS signed the agreement with Qatar Islamic Bank, BARWA Bank, Qatar International Islamic Bank and Arab Petroleum Investments Corporation "APICORP".
Chief Coordinator of Gulf International Services Company Ibrahim Al Mannai said that the agreement goes in line with the GIS ambitious vision, adding that the Gulf International Services will utilize the financing facility for: AMWAJ Catering Company acquisition from Qatar Petroleum, and increase the GIS share in Gulf Drilling International Company s capital increase with the aim of financing GDI s expansion plan.
Gulf International Services was incorporated as a Qatari shareholding company on 12 February 2008, by Qatar Petroleum (QP).
GIS has significant investments in national and international oil and gas industry, including well support services, offshore and onshore drilling services, helicopter maintenance and transportation services, insurance and reinsurance services.