Times of Oman | News :: Orpic inks $2.8b loan deal with consortium:
"Oman Oil Refineries and Petroleum Industries Company (Orpic) signed a $2.8 billion loan agreement with a consortium of 21 international and national financial institutions yesterday for its projects including the Sohar Refinery Improvement Project (SRIP), which will be 65 per cent debt financed.
The loan agreements were signed on behalf of Orpic by Dr Mohammed bin Hamad Al Rumhy, minister of oil and gas and chairman of Orpic, and Musab Abdullah Al Mahruqi, chief executive officer of Orpic. The agreements were also signed on behalf of Orpic shareholder by Nasser bin Khamis Al Jashmi, undersecretary of the Ministry of Finance and Mulham bin Basheer Al Jarf, deputy chief executive officer of Oman Oil Company.
"This is a significant moment for both Orpic and the nation on two counts. It demonstrates the considerable appetite there is for international investment in Oman's oil and gas sector, and at the same time a step further in maximising the added value of the Omani crude," Rumhy said."
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