Duqm Refinery signs $4.6b Shari’ah-compliant project financing

Muscat

Oman’s Duqm Refinery has signed a $4.61 billion multi-sourced Shari’ah compliant project financing agreement. In a statement, Duqm Refinery stated that the financing is provided by 29 reputed financial institutions from 13 countries and insurance, as well as guarantees, are provided by three major export credit agencies. Mubarak Al Naamany, Duqm Refinery Project’s Chief Financial Officer, said, “The $ 4.61 billion multi-sourced financing signed for the Project is not only the largest project financing in the Sultanate of Oman.”—Agencies

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