{"id":621759,"date":"2018-11-18T04:16:57","date_gmt":"2018-11-18T04:16:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/asorc-in-talks-with-local-gulf-banks-for-usd-500-mn-loan-in-financing-for-refinery\/"},"modified":"2018-11-18T04:16:57","modified_gmt":"2018-11-18T04:16:57","slug":"asorc-in-talks-with-local-gulf-banks-for-usd-500-mn-loan-in-financing-for-refinery","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/asorc-in-talks-with-local-gulf-banks-for-usd-500-mn-loan-in-financing-for-refinery\/","title":{"rendered":"ASORC in talks with local, Gulf banks for USD 500 mn loan in financing for refinery"},"content":{"rendered":"

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<\/a>. ANOPC had previously approached<\/a> 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).<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7278],"tags":[3125,7106,93,72,7087,7111,705],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621759","post","type-post","status-publish","format-standard","hentry","category-infrastructure","tag-assiut-oil-refining-company","tag-debt","tag-energy","tag-enterpriseam","tag-finance","tag-infrastructure","tag-petrochemicals","wpautop","entry"],"acf":{"mongo_id":"29023011-f4f9-4e5b-9b48-56e580fd5a31","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"ASORC in talks with local, Gulf banks for USD 500 mn loan in financing for refinery","related_issue":[621730],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.720afe57-4004-4bb0-91ff-dee37914f419.mp3"},"yoast_head":"\nASORC in talks with local, Gulf banks for USD 500 mn loan in financing for refinery - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/asorc-in-talks-with-local-gulf-banks-for-usd-500-mn-loan-in-financing-for-refinery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASORC in talks with local, Gulf banks for USD 500 mn loan in financing for refinery\" \/>\n<meta property=\"og:description\" content=\"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. 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ANOPC has approached the National Bank\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629986,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/05\/asorc-signs-nbe-brokered-usd-100-mn-loan-from-china-development-bank\/","url_meta":{"origin":621759,"position":1},"title":"ASORC signs NBE-brokered USD 100 mn loan from China Development Bank","author":"enterpriseam admin","date":"5 April 2018","format":false,"excerpt":"The Assiut Oil Refining Company (ASORC) signed a USD 100 mn loan agreement with the China Development Bank (CBD) on Wednesday to help fund upgrades to its refinery, according to an Oil Ministry statement. The loan \u2014 arranged by the National Bank of Egypt (NBE) \u2014 will contribute to building\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603519,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/asorc-building-usd-450-mn-facility-to-produce-high-octane-fuels\/","url_meta":{"origin":621759,"position":2},"title":"ASORC building USD 450 mn facility to produce high octane fuels","author":"enterpriseam admin","date":"24 April 2019","format":false,"excerpt":"State-owned Assiut Oil Refining Company (ASORC) is building a USD 450 mn facility to produce high octane fuels with a total capacity of 660k tonnes a year, ASORC head Mahmoud El Shaboury said. El Shaboury didn\u2019t specify a time, but added that the project is currently 40% complete. Assiut National\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600215,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/22\/egypt-to-spend-usd-9-bn-for-refinery-upgrades-says-el-molla\/","url_meta":{"origin":621759,"position":3},"title":"Egypt to spend USD 9 bn for refinery upgrades, says El Molla","author":"enterpriseam admin","date":"22 January 2019","format":false,"excerpt":"Egypt will spend USD 9 bn over the next four years to upgrade six oil refineries, Oil Minister Tarek El Molla has said, according to Reuters. The project aims to increase the country\u2019s production to 41 mn tonnes per year, up from 25 mn tonnes currently. We had noted last\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553911,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/gulf-banking-syndicate-disburses-usd-3-bn-loan-to-egypt-govt\/","url_meta":{"origin":621759,"position":4},"title":"Gulf banking syndicate disburses USD 3 bn loan to Egypt gov\u2019t","author":"enterpriseam admin","date":"13 December 2021","format":false,"excerpt":"The Gulf banking syndicate that agreed last month to lend USD 3 bn to the Egyptian government has disbursed the funding, Al Shorouk reports, citing unnamed sources. The three-year loan is being arranged by First Abu Dhabi Bank and Emirates NBD, and is split 50-50, with USD 1.5 bn allocated\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600166,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/21\/egypt-studying-improving-80-octane-gasoline-in-2h2019\/","url_meta":{"origin":621759,"position":5},"title":"Egypt studying improving 80 octane gasoline in 2H2019","author":"enterpriseam admin","date":"21 January 2019","format":false,"excerpt":"The Oil Ministry expects to complete in 2H2019 a study to swap out 80-octane fuel to 87-octane grade, a ministry official tells Al Mal. 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