Halal Business

Duqm Refinery secures $100 million financing from APICORP

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The Arab Petroleum Investments Corporation (APICORP) has contributed $100 million to the financing of the refinery, $50 million Shari’ah-compliant and $50 million conventional tranche.

Sunday 23, December 2018 BY KUDAKWASHE MUZORIWA

APICORP has announced $100 million investment as part of a consortium of international and regional banks financing the construction of Oman’s Duqm Refinery.

In a statement, the multilateral development bank stated that it continues to finance foreign investments in petrochemical projects such as MEGlobal in Canada and the Netherlands as well as Equipolymers in Switzerland and the Nghi Son refinery and petrochemical plant in Vietnam.

Dr Ahmed Ali Attiga, CEO of APICORP, said that as the Arab energy sectors most trusted financial partner, APICORP seeks to further strengthen its existing partnerships with the governments of Kuwait and Oman.

TAGS : APICORP , Duqm Refinery, Shari’ah-compliant

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