Oman Oil Company celebrates the financial closure of Salalah Methanol Company’s ammonia project
Salalah Methanol Company (SMC), a wholly owned subsidiary of Oman Oil Company (OOC), celebrated the financial closure for Salalah Ammonia Plant, a sustainable project that will significantly contribute to the development of downstream sector in Dhofar Governorate and the Sultanate’s diversification plans. The ceremony, held in Grand Millennium Muscat, was attended by Isam bin Saud al Zadjali, CEO of Oman Oil Company. Also in attendance were representatives from the government and private sectors, as well as a number of local and international financial institutions.
SMC successfully secured a 12-year $728mn recourse project finance facility, which has been oversubscribed (around 2.5 times of required facility amount) from a mix of international, regional and local financial institutions. The facility will be used to refinance SMC’s existing debt, while the remaining $443mn to be allocated to the development of the ammonia plant.
Total investment in the ammonia project is pegged at $456mn, according to officials.
Esta historia es de la edición September 2017 de Oman Economic Review.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 2017 de Oman Economic Review.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Stunning Models
Alfa Romeo celebrates an unprecedented trio of prestigious awards from EVO Middle East magazine
Brace For Sweltering Summers
The Air Conditioning Division of Khimji Ramdas (ACD) has been in relentless service to the people of Oman, providing professional air conditioning solutions.
Preventing Heart Disease
Heart disease is a leading killer globally. Beware what to do when chest pain strikes, says Dr V S Yogeeswari, Specialist Cardiologist, NMC Specialty Hospital, Al Ghoubra
Connecting Lives
Smart homes zone, AR/VR zone and robot technologies are some of the latest attractions at Comex 2018
Staying Ahead Of The Curve
Mandatory public listing of insurance companies has driven some consolidation in the industry to optimise the number of insurers in the market, whilst maintaining a healthy competitive landscape, says Lloyd East, CEO – Al Ahlia Insurance Co and RSA Middle East. Muhammed Nafie reports
Robust Growth
Khalid Al Kayed, CEO of Bank Nizwa, talks about the bank’s performance, expansion strategy, future outlook and the Islamic banking industry in Oman
Alizz Islamic Bank To Finance Expansion Of Gutech Facility
Alizz Islamic Bank To Finance Expansion Of Gutech Facility
Committed To National Priorities
Isam bin Saud Al Zadjali, CEO, Oman Oil Company shares his thoughts on the company’s achievements, challenges and future direction in an exclusive interview to Mayank Singh.
A Go-Getter
Shahad Naser Al Wahaibi, Fuels Marketing, Payment & Brand and Communications Implementer at Shell Oman Marketing, carved out a successful career path, driven by her passion to learn and adapt to new challenges. Muhammed Nafie interviews her to find out what made her win NTI BizPro Awards 2017
Never Give Up
Persistence and hard work are the key to surmount challenges, says Ahmed Mohammed Al Ardhi, Area Manager – Muscat and Sharqiya, Sadara Wealth Management, National Bank of Oman. Mayank Singh reports.
