Export-Import Bank gets involved in Oman project

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Export-Import Bank gets involved in Oman project

The Export-Import Bank of Korea injected $370 million in project finance for GS Engineering & Construction’s deal in Oman to build the country’s first petrochemical facility, the bank said Tuesday.

The $6.3 billion project by the state-run Oman Oil Refineries and Petroleum Industries Company SAOC is guaranteed by the Oman government. The project includes construction of a natural gas extraction facility and 300 kilometers (186 miles) in pipelines, as well as operations authority for those facilities. The Seoul-based Korea Trade Insurance Corporation is also involved in the project.

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