News Column

Oman : ORPIC to raise $170M to fund MUSCAT-SOHAR pipeline

May 27, 2014

Banking sources have announced that Oman Oil Refineries and Petroleum Industries Company (Orpic) has planned to raise around 65.45 million rials ($170 million), as part of funding the Muscat-Sohar pipeline.

The 280-km pipeline linking Orpic's Mina Al Fahal refinery in Muscat to its Sohar refinery has been proposed to be a multi-product line.

Early in 2014, the company inked a partnership deal with the Spanish Compania Logistica de Hidrocarburos (CLH) to build and operate the pipeline.

While according to banking sources, it has still not been decided whether the fund would be in rials or dollars, the small transaction size would mean that the whole debt could be financed by a single bank and there would be no need to look at a group.

Apart from Sohar refinery upgrade and the Liwa Plastics, the pipeline is one of the three major Orpic projects.

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Source: TendersInfo (India)

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