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FINANCIAL NEWS
Qatar Petroleum eyes big loans to finance new projects
19 Sep 2012
(MENAFN) Qatar Petroleum (QP) is eyeing to borrow large sum of cash in 2014 to fund new industrial projects, Reuters reported.
Meshaal al-Mahmoud, the company’s head of project finance said that QP is considering approaching the bank market, capital markets as well as issuing conventional bonds and sukuk as part of the financing plan.
He further explained that QP will use the cash to finance three projects; Qatar’s Shell petrochemical plant, the Qapco petrochemical plant, and a planned aromatics plant at Qatar’s industrial city of Ras Laffan.
He also said that Qatar Petroleum planned USD25 billion worth of downstream projects over the next five years.
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