State-owned company Middle East Oil Refinery (MIDOR) has reached a final agreement with Crédit Agricole and BNP Paribas and Italy’s CDP over a USD 1.2 bn loan to finance the USD 2.2 bn-worth of expansions at its refinery, MIDOR Chairman Mohamed Abdel Aziz tells Al Mal. MIDOR had reached a preliminary agreement for the loan amount back in 2016. MIDOR had received in August last another USD 200 mn from the African Export-Import Bank (Afreximbank) for the expansion, which will increase capacity to 175k barrels of crude per day from a current 115k.

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