Oman's first joint venture tourism project gets $105 million loan
The Barr al Jissah Resort Company and a consortium of lead arrangers of syndicated loan for the prestigious resort project on Monday signed a project finance agreement for $105 million loan. The two lead arrangers - Gulf International Bank and HSBC - have arranged the loan along with three other banks - Bahrain-based Arab Bank, BankMuscat and Bank Dhofar. Barr al Jissah Resort Oman
Of the total capital expenditure of RO 70 million, RO 25 million is raised by way of equity capital, RO 40 million commercial loan and RO 5 million soft loan. Of the equity capital, RO 15 million (60 per cent) is held by the Zubair Corporation, while the Omani government has RO 10 million (40 per cent) stake in the resort project, said Ziyad M al Zubair, who represents the Zubair Corporation in the resort company.
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The Barr al Jissah Resort Company and a consortium of lead arrangers of syndicated loan for the prestigious resort project on Monday signed a project finance agreement for $105 million loan. The two lead arrangers - Gulf International Bank and HSBC - have arranged the loan along with three other banks - Bahrain-based Arab Bank, BankMuscat and Bank Dhofar. Barr al Jissah Resort Oman
Of the total capital expenditure of RO 70 million, RO 25 million is raised by way of equity capital, RO 40 million commercial loan and RO 5 million soft loan. Of the equity capital, RO 15 million (60 per cent) is held by the Zubair Corporation, while the Omani government has RO 10 million (40 per cent) stake in the resort project, said Ziyad M al Zubair, who represents the Zubair Corporation in the resort company.
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posted by Mohd Amin | 5:37 AM
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