Commercial Bank of Dubai backs Siemens Energy with AED 550mn facility to drive UAE energy projects
Commercial Bank of Dubai (CBD) said it has partnered with Siemens Energy, a leader in energy technology, by providing an AED550 million bilateral credit facility to the company's UAE unit, Siemens Energy LLC.
The facility will enable Siemens Energy LLC to execute its expanding pipeline of projects and drive future growth.
Dr. Bernd van Linder, CEO at Commercial Bank of Dubai, said the bank is pleased to extend this bilateral credit facility to Siemens Energy, a key player in the energy sector.
'This partnership demonstrates our financial strength and ability to support leading global corporations in their growth ambitions while reinforcing our position as a trusted banking partner in the UAE,' he said.
The transaction represents a strategic advancement for CBD, solidifying its footprint in the energy sector by partnering with a globally recognised leader.
Robert McAnally, Head of Treasury and Corporate Finance at Siemens Energy, said financial resilience and strategic flexibility are essential to delivering on the company's commitments and advancing the energy transition.
'This facility enhances our ability to navigate a dynamic industry and support the evolving energy landscape, particularly in the Middle East – one of the world's fastest-growing energy markets,' he said.
The facility aligns with CBD's strategic vision to enhance its market presence by providing tailored financial solutions to industry leaders.
The energy sector remains a critical pillar of economic growth in the UAE, and CBD's collaboration with Siemens Energy LLC reflects the bank's commitment to supporting key industries that drive progress and innovation, it said.
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