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ARAB OIL CO TO INVEST $US900MLN IN HYUNDAI OIL REFINERY CO.
SEOUL, April 1 Asia Pulse - The United Arab Emirates (UAE) oil investment company IPIC is to invest US$900 million in the financially-pressed Hyundai Oil Refinery Co., according to Hyundai.
The UAE government's wholly invested IPIC has agreed to provide $400 million in loans and $500 million in trade credit to the Hyundai Oil Refinery, after three-month negotiations with the Hyundai Heavy Industries Co.
The UAE investment company holds a 50 percent interest in the refinery through the purchase of its new ...
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Source: HighBeam Research, ARAB OIL CO TO INVEST $US900MLN IN HYUNDAI OIL REFINERY CO.