Middle East Economic Survey
Sohar Aluminium Issues RFP To Banks
Sohar Aluminium Company has issued a request for proposal (RFP) to banks to secure funding for its proposed $2.2bn smelter. The RFP indicates that Sohar will need a $1.2bn loan from conventional banks and a $260mn Islamic loan, to give total debt of $1.46bn. Tenor is 15 years and responses are due on 21 October. The low margins recently secured by Aromatics Oman suggest that the aluminum smelter...