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FINANCIAL NEWS
Oman, Kuwait to ink deal for Duqm refinery
02 Apr 2017
(MENAFN) Kuwait will ink an agreement with Oman for Duqm refinery near the port in the Al Wusta region on April 10, which is part of the vast industrial zone that is Oman’s biggest economic project.
Moreover, the finance for the project will be arranged in such a way that 60 percent will be equity and 40 percent project finance.
Additionally, the debt will be from global banks and from export credit agencies, while a 900-hectare site has been allocated for the project and the leveling has been finished as per schedule.
The project will be the catalyst and ignition towards the start of similar projects in the energy field between GCC nations where this mega project will transfer Duqm area into one of the most important energy hubs.
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MENAFN0204201700450000ID1095361035
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