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FINANCIAL NEWS
Kuwait’s KNPC signs USD 3.96bn loan for fuels project
28 Apr 2016
(MENAFN) Kuwait National Petroleum Co (KNPC) signed the first tranche of financing for its multi-billion-dollar Clean Fuels Project.
Moreover, the loan worth USD 3.98bn and led by the National Bank of Kuwait and Kuwait Finance House.
Accordingly, last month the first tranche would be worth USD 2.97mn, while no reason was given for the increase in size.
In addition, the second tranche which will be arranged by global lenders is predicted to be USD 6bn and close by the end of this year.
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