Salala Ports Services Company signed a 110 million
USD loan agreement with three banks to finance a project for Dock 5,6 equipments and another one to extend the wave breaker.
Executive Director of the Company Jack Hilton signed the agreement with the Director General of Muscat Bank, Thefar Bank and the Gulf International Bank, according to KUNA news agency.
The agreement stipulates that each Muscat Bank and the Gulf International Bank will grant 42.5 million USD whereas Thefar Bank will grant 25 million USD.
In a press statement, Hilton said the restructuring of the current loan and finance of expected expansion in the company will be aimed at developing the port and future plans. (menareport.com)
© 2004 Mena Report (www.menareport.com)
