Pakistan Refinery approaches banks for syndicated loan: bankers

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


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.