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Octal Petrochems raises first full market risk Omani project debt

19 November 2007

Read more: [octal] [project finance] [plastics]

Omani company Octal Petrochemicals has secured a 10-year $166.5 million loan from Bank Muscat for a plastic packaging plant in the Salalah Free Zone.

The financing comprises a $148.5 million term loan, of which $34.5 million was syndicated to Bank Dhofar, and an $18 million working capital facility. The deal completes an initial $316.5 million investment in proprietary technology and production lines by Octal over the past year. The remaining $150 million has been raised in equity, with...

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