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FINANCIAL NEWS
Bahraini Sitra refinery to make USD5b expansion project
11 Mar 2015
(MENAFN) Bahrain’s Sitra crude oil refinery is forecast to make an expansion worth USD5 billion and the facility is likely to be commissioned by 2019, according to the energy minister, Arabian Business reported
The refinery’s capacity, under the plan, is set to increase from260,000 barrels per day to 360,000 and it will be commissioned by 2019. Funding will be through borrowing, and is not finalized yet, according to the minister.
“We have the refinery modernization which will cost around USD5 billion. Already front-end engineering and design (FEED) has been awarded – FEED should be ready by the end of the first quarter of 2016,” the minister said.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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