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CN 4 Biggest Banks Reportedly Participate in Saudi Aramco's Jafurah Shale Gas Project Loan Totaling US$3.75B
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China's four major state-owned banks provided loans to Saudi Aramco's Jafurah natural gas project, which may be the largest shale gas project outside the US, Reuters quoted sources as saying. China's four biggest banks accounted for more than one-third of the total loan amount for the project, with BANK OF CHINA (03988.HK), ICBC (01398.HK) and CCB (00939.HK) each providing approx. US$1 billion in loans, while ABC (01288.HK) lending US$750 million,the report said. Under the agreement terms, Jafurah Midstream Gas Company will lease processing assets to Saudi Aramco for 20 years, with Saudi Aramco holding 51% and a consortium led by BlackRock's GIP holding 49%. AASTOCKS Financial News Website: www.aastocks.com |
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