VOL. XXXIX

No. 24

11-March-1996

BAHRAIN

GPIC Signs $110Mn Loan Facility For Bahrain Urea Plant Project

A group of banks has agreed to lend Gulf Petrochemical Industries Company (GPIC) $110mn to finance the construction of a new urea plant at GPIC's Sitra complex. The Bahraini Minister of Oil and Industry and GPIC Chairman, Shaikh 'Isa ibn 'Ali Al Khalifah, and the banks signed the loan facility agreement on 5 March. The arrangers and underwriters for the loan are Arab Banking...