ABU DHABI — Abu Dhabi National Oil Company, or Adnoc, and the Japan Bank for International Cooperation, or JBIC, on Tuesday signed a $3 billion loan agreement to finance Adnoc’s expansion projects to boost its oil and gas production.
The signing ceremony was attended by Adnoc director-general Abdulla Nasser Al Suwaidi, Japan’s Minister of Economy, Trade and Industry Toshimitsu Motegi, Japan’s Ambassador to the UAE Yoshihiko Kamo, and a number of senior officials from the Adnoc Group.
The loan is co-financed with The Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation and Mizuho Corporate Bank. Adnoc finance director Matar Hamdan Al Ameri and JBIC chief executive for operatoins Fujio Hoshi signed the deal on behalf of their respective organisations.
Read more: http://www.khaleejtimes.com/kt-article-display-1.asp?xfile=/data/uaebusiness/2013/February/uaebusiness_February214.xml§ion=uaebusiness
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