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3 months ago
Kuwait National Petroleum signs $6.25 bln loan for clean fuels project
May 24, 2017 / 10:57 AM / 3 months ago

Kuwait National Petroleum signs $6.25 bln loan for clean fuels project

KUWAIT, May 24 (Reuters) - Kuwait National Petroleum Co (KNPC) has signed a $6.25 billion loan with international lenders to back its planned Clean Fuels project, the company announced on Wednesday.

The financing was backed by seven export credit agencies.

The multi-billion project obtained a first tranche of the financing in April last year, when KNPC closed a 1.2 billion dinar ($3.96 billion) loan facility led by National Bank of Kuwait and Kuwait Finance House.

$1 = 0.3034 Kuwaiti dinars Reporting by Ahmed Hagagy; writing by Davide Barbuscia; editing by Jason Neely

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