Algerian Banking Syndicate to Advance a 2.06-Billion Loan for the Mers al-Hadjadj Nitrogenous Fertilizer Project

摘要

Seven months after signing an EPC (engineering, procurement and construction) contract for its future urea and ammonia complex at Mers el-Hadjadj in April this year, Sonatrach and the Omani company Suhail Bahwan Group Holding (SBGH) signed a loan agreement with a syndicate of Algerian state-owned banks on 20 November for a 2.06-billion credit facility to finance its complex, which is being built in the Arzew industrial zone. The leader of the banking syndicate is Credit Populaire d'Algerie and the other members are Banque Exterieure d'Algerie, the Banque Nationale d'Algerie, the Banque Locale de Developpement and CNEP-Banque.