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Article: Saudi Arabia - The Jubail JV With Total.
- Article from:
- APS Review Downstream Trends
- Article date:
- October 5, 2009
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Project costs have fallen steadily since 2008, and now the Jubail JV plant of Saudi Aramco and Total is estimated at $9.6bn. In September they secured the banking commitments needed to finance their refinery. MEED on Sept. 25 quoted "bankers close to the deal" as saying the JV's advisers were keeping the door open to international banks which missed a Sept. 18 deadline to provide financing offers, to ensure the deal received the best possible terms.
The publication quoted a "banker working on the project", as saying: "Not all the responses from banks are in yet, but it is clear that the Saudi tranche is significantly oversubscribed, and the international bank ...