Oman Oil Refinery Company receives loan valued US$ 140 million
The Oman Oil Refinery Company has received a loan valued US.$ 140 million form the Gulf International Bank and a group of local and Gulf banks. According to ONA, the loan agreement was signed at Muscat Grand Hyatt hotel Tuesday by Dr. A'dil bin Abdul Aziz al-Kindi, Refinery Executive President and the CEOs and executive presidents of donor banks.
Al-Kindi said the company will use the loan to finance part of the expansion projects currently being implemented. He noted that the projects include boosting the refinery's capacity from 85,000 barrels per day to 106,000 barrels and establishing the additional unit of al-Azmarah which will increase the refinery's stock of the super benzene.
He added the projects to be carried out also include extending a 277 kilometer long pipeline from the Oman Oil Refinery to Sohar Refinery.
The total value of projects currently being implemented by the Oman Oil Refinery company is about US $ 320 million.