Attock Gen Limited ("AG") recently achieved financial close for the 165 MW Independent Power Plant at a signing ceremony held between the company and the syndicate members. Faysal Bank Limited and Allied Bank Limited are the "Lead Advisors and Arrangers" and the Agent Bank is Faysal Bank Limited for the transaction.
The PKR 8.58 billion Islamic structured Non-Recourse Project Finance Facility has achieved a quick turn-around time and received strong response from the financial sector. The consortium is comprised of twelve financial institutions, which include leading banks and Development Financial Institutions.
The project entails setting up a 165 MW power plant (the "Project") on BOO (Build Operate Own) concept based on Residual Fuel Oil from the indigenous crude oil processed at the Attock Refinery Limited in Rawalpindi, Pakistan.-PR
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