Algerian petroleum company signs finance agreement with Japanese bank

Published May 17th, 2001 - 02:00 GMT

The public Algerian Petroleum Company (Sonatrach) recently signed a finance agreement with the Japanese International Cooperation Bank, reports Al-Quds Al-Arabi newspaper.  

 

Under the agreement, $260 million will be supplied to expand production capacity of the Hassi Al-Ramel oil field. Over the past 30 years, the Algerian Sonatrach Company has borrowed a total of $7 billion from the Japanese bank. –(MENA Report) 

© 2001 Mena Report (www.menareport.com)


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