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FINANCIAL NEWS
Oman-Salalah LPG project to issue 75pct funding
13 Apr 2017
(MENAFN) Oman Oil Facilities Development Co. is close to secure 75 percent funding for its USD600mn-liquified petroleum gas (LPG) project in Salalah.
Furthermore, the fiscal closure will be finished amid the second quarter of the year, while the firm is discussing partial financing for the project with many global banks.
Meanwhile, UK-based global oil services contractor Petrofac had bagged an Engineering, Procurement and Construction deal to build the project in Jan this year.
In addition, Petrofac’s scope of work involves building of the PPG unit with a capacity to generate 327.000 tons per annum and associated facilities.
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