Three Banks to Arrange Assiut Oil Refining Co’s $161 million Loan

Three leading banks in Egypt will be arranging a syndicated loan worth $161 million for Assiut Oil Refining Company (ASORC).

The banking consortium, which will arrange ASORC’s loan, comprises of the National Bank of Egypt (NBE), Commercial International Bank of Egypt (CIB), and Ahli United.

Banking sources with knowledge of the loan talks told Amwal Al Ghad that the loan will go for upgrading the company’s oil refining laboratory.