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Sinopec loan paves the way for storage facility in UAE

(China Daily)

08:37, March 15, 2013

China Petroleum & Chemical Corp is leading the way for fuel producers and traders to borrow more than $500 million to build storage at the biggest oil port in the Persian Gulf region outside the Strait of Hormuz. Sinopec and a Singaporean partner raised a $252 million loan last month for an oil-storage facility in Fujairah, the UAE port, a person with knowledge of the financing said.

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Email|Print|Comments（Editor：HuangBeibei、Liang Jun）

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