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.
Bu hikaye Oman Economic Review dergisinin September 2017 sayısından alınmıştır.
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Bu hikaye Oman Economic Review dergisinin September 2017 sayısından alınmıştır.
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