FINANCIAL NEWS

Oman’s Duqm hires Credit Agricole for USD6bn project

16 Mar 2017

(MENAFN) Oman’s Duqm Refinery & Petrochemical Co. hired Credit Agricole SA in order to advice on fundraising for its USD6bn project.

Meanwhile, Credit Agricole will help the Omani firm raise more than USD2bn in loans, while funding backed by export credit agencies may also support the project.

In addition, the Duqm refinery project is 50 percent owned by state-controlled Oman Oil Co., with other 50 percent held by Kuwait Petroleum International.

Furthermore, state-owned Elect Holding Co. last month hired JPMorgan Co. and Bank Muscat to advice on raising USD2bn for projects.

MENAFN1603201700450000ID1095317826

MENAFN1603201700450000ID1095317826

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