Middle East Economic Survey

VOL. XLVIII

No 42

17-October-2005

IRAN

Iranian Company Secures $100Mn Loan From Standard Chartered

Standard Chartered Bank of the UK has put together a syndicated loan of $100mn for an Iranian state-owned aluminum firm IRALCO to finance aluminum exports. According to an IRALCO official, Swiss-based Glencore International will be the prime importer of aluminum for its warehouses in the UAE. The official added: We pay nothing in cash; we export 2,200 tons each month, then...