ASORC in talks for USD500mn loan in financing for refinery
The Assiut Oil Refining Company (ASORC) is in talks with local and Gulf banks for a USD500mn loan as part of the financing package for its USD1.9bn hydrocracking facility, unnamed banking sources said, according to Al Shorouk. ANOPC had previously approached the National Bank of Egypt, Banque Misr, CIB, Arab African Bank, QNB Egypt, HSBC, Credit Agricole and Egyptian Gulf Bank for a EGP1.2bn loan (USD67mn).
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