Middle East Economic Survey

VOL. XLVII

No 23

07-June-2004

OMAN

ENERGY FINANCE

Oman Polypropylene Signs $240Mn Financing Facility

The Omani Government on 31 May signed the $240mn deal concluded earlier in the month (MEES, 24 May) to finance the construction of a new polypropylene plant in the Sohar Industrial Area. The financing is being undertaken by Arab Banking Corporation (ABC), Arab Petroleum Investment Corporation (APICORP), HSBC and BNP Paribas and has a tenor of 10 years post-construction....