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Italian credit agency guarantees Orpic’s $100m loan

: Monday, June 02 - 2014 @ 01:53

Italian export credit agency SACE has said it has guaranteed a $100m loan issued by HSBC in favour of Oman Oil Refineries and Petroleum Industries Co (Orpic) in order to finance a procurement contract with Italian enterprises for Sohar refinery, Muscat Daily has reported. “This operation is part of a $2.8bn project by Orpic for the modernisation and enlargement of Sohar refinery,” SACE said. “The amount granted by SACE will be used by Orpic to finance an engineering, procurement and construction contract with several Italian enterprises for the supply of equipment and machinery in the expansion project of the Sohar refinery.”

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Monday, June 2- 2014 @ 1:53 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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