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Oman aims USD5bn bank finance for USD7bn Duqm refinery project

11 Apr 2017

(MENAFN) Duqm Refinery is seeking 65 percent of its USD7bn capital spending for building the refinery from global and regional institutions.

Accordingly, the mutual venture has started basic talks with fiscal institutions for securing the needed finance, while Duqm plans to get USD5bn as loan of the total cost of the USD7bn project.

Recently, Duqm is evaluating financial offers from potential engineering, procurement and construction contractors and a report will be submitted to Oman Oil Co. for choosing the successful bidder.

In 2015, a tender for selecting an EPC contractor for the main project was floated, while the land leveling work for the project was finished in May last year.

MENAFN1104201700450000ID1095384084

MENAFN1104201700450000ID1095384084

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