VOL. XXXIX

No. 41

8-July-1996

UAE

IndianCompanyToRaiseFinancingFor DubaiFertilizer

Plant

Plans for the construction of a 1,200ton/dayurea/ammonia

plantinDubai'sJebel Ali free trade zone by the Indian firm Southern PetrochemicalsIndustries Corporation(SPIC)

arefirmingupwith the announcement last week that SPIC will shortly raise $165mn for theproject.A SPIC official

hassaidthat$100mn will be raised in a syndicated loan and $60mn through the issue of globaldepositoryreceipts

...