Saudi Aramco, Total secure $6bn loan, bankers said

30 January 2010

Saudi Aramco and French oil giant, Total have secured $6bn in bank loans to finance the construction of the $12bn Jubail Export Refinery in the kingdom's Eastern Province, Bloomberg has reported, citing two bankers involved in the transaction. Last June, the two oil companies said the 400,000 barrels-a-day refinery will be fully operational by the second half of 2013. Saudi Aramco and Total each plan to retain 37.5% of the refinery, with 25% to be sold in an initial public offering, the companies said.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications