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FINANCIAL NEWS
Oman’s Salalah Methanol aims USD720mn loan from banks
09 Mar 2017
(MENAFN) Oman’s Salalah Methanol Co. asked banks for USD720mn syndicated loan that the state-run petrochemical firm would use for a new ammonia plant.
However, Salalah Methanol has not given an exact indication of the potential interest rate of the loan, but the borrower was looking at a rate in the low 300 basis points area.
Almost one-third of the USD720mn financing would be used to repay current debt, with the balance used to back construction of the new plant.
In addition, Canada’s SNC-Lavalin was given a construction deal by Salalah Methanol to build the ammonia plant, its utilities and off-site infrastructure.
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MENAFN0903201700450000ID1095301867
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