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FINANCIAL NEWS
Oman’s ORPIC takes out USD910m loan
23 May 2015
(MENAFN) Oman Oil Refineries and Petroleum Industries Co. (ORPIC) has taken out a USD910 million ten-year loan from local and regional banks, Arab News reported.
The money will be used to “meet general corporate requirements and certain projects currently being considered,” chief financial officer said in a statement.
The syndicated loan was arranged by Bank Muscat while the consortium included Bank Dhofar, National Bank of Oman, Bank Sohar, the local operation of Qatar National Bank and other banks.
“ORPIC plans to raise syndicated financing to fund the Liwa Plastics Industrial Complex, for which it has started discussions,” the company’s CFO said.
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