Duqm Refinery’s financing of $4.6bn was recognised by Project Finance International (PFI) at a gala awards ceremony held in London where it won the “Middle East Petrochemical Deal of the Year’.
The PFI Awards event is considered to be the most prestigious event in the global project finance calendar and it sees over 900 of the World’s most senior and successful finance professionals gather to celebrate industry excellence.
“Achieving financial close and winning this award is a recognition of several ‘firsts’ that the project has delivered on” said CEO of Duqm Refinery, Dr. Salim Al Huthaili. “This is not only the first cross border project in the Gulf region, but also the first where two government owned Oil companies are partnering on such an initiative”, he further added.
Mubarak Al Naamany, Chief Financial Officer, Duqm Refinery added: “The multi-sourced financing signed for the Project is not only the largest project financing in the Sultanate of Oman, it also includes the largest sharia compliant facility awarded to a green field project in the country provided by a consortium of Islamic financing institutions”. He further added, “Facilities have been provided by 29 reputed financial institutions from 13 countries and guarantees from 3 major ECAs”.
For more information visit www.duqmrefinery.com