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Article: Fresh Funds: Dolphin Energy Secures $4.1 bln Loan.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- August 4, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Summary: DUBAI - Dolphin Energy Limited said it acquired a 10-year loan of $4.1 billion to refinance existing debt and partially fund its gas pipeline project.
Dolphin said the amount borrowed will be used to retire a $3.45 billion loan secured in 2005, finance 70 per cent of the construction costs of the 240-kilometre Taweelah-Fujairah gas pipeline, while the rest will cover financing fees related to the debt.
Dolphin is spearheading the Dolphin Gas Project, one of the largest energy-related ventures in the Middle East. It is involved in the development of wells, sealines, processing plant, export pipeline and receiving facilities.
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