Pakistan Refinery seeks loan to increase capacity
10/14/2016 7:16:46 AM
Photo courtesy of Pakistan Refinery Ltd.
(Reuters) Pakistan Refinery is in talks with international banks over a potential syndicated loan, bankers involved in the discussions said.
The loan proceeds will be used to double Pakistan Refinery's refining capacity, they said.
The company did not immediately respond to a request for comment.
Talks are at an early stage, the bankers said, with one of them saying that that no mandate has been awarded yet.
Pakistan Refinery was incorporated as a public limited company in 1960. It has a processing capacity of 47 Mbpd of crude oil.
Reporting by Davide Barbuscia and Tom Arnold. Editing by Jane Merriman
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