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Pakistan Refinery approaches banks for syndicated loan: bankers

Latest Update: October 14, 2016 | 429 Views
pakistan-refinery

KARACHI: Pakistan Refinery is in talks with international banks over a potential syndicated loan, bankers involved in the discussions said.

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The loan proceeds will be used to double Pakistan Refinery’s refining capacity, they said.

The company did not immediately respond to a request for comment.

Talks are at an early stage, the bankers said, with one of them saying that that no mandate has been awarded yet.

Pakistan Refinery was incorporated as a public limited company in 1960. It has a processing capacity of 47,000 barrels per day of crude oil.

Reuters