Apr 18 2011 |
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NBO to finance aluminium rolling mill project in Sohar
MUSCAT -- National Bank of Oman ( NBO ) has signed a financial agreement with Aluminium Rolling Mill Company, which is establishing a new rolling mill facility at Sohar Industrial Estate . The project is promoted by Takamul Investment Company SAOC, owned by Oman Oil Company , in conjunction with the Italian FATA EPC Company.As per the agreement, NBO is the mandated Lead Arranger in raising a long term syndicate loan of $193.15 million to finance the capital expenses in setting up a green field aluminium rolling mill in Sohar Industrial Estate . The total estimated cost for this project is $386.3 million.
The installed capacity of the project is estimated at 160,000 metric tonne per annum and the construction period of the plant is expected to take about 31 months. The facility will provide over 270 direct job opportunities as well as many other investment opportunities.
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