The Assiut Oil Refining Company (ASORC) is in talks with local and Gulf banks for a USD 500 mn loan as part of the financing package for its USD 1.9 bn hydrocracking facility, unnamed banking sources said, according to Al Shorouk. ANOPC had previously approached the National Bank of Egypt, Banque Misr, CIB, Arab African Bank, QNB Egypt, HSBC, Credit Agricole, and Egyptian Gulf Bank for a EGP 1.2 bn loan (c. USD 67 mn).

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