KPC Signs MoU worth USD 5 bln with Korea's Eximbank

Source: KUNA 10/27/2015, Location: Middle East

The Kuwait Petroleum Corporation (KPC) and the Export-Import Bank of Korea, also known as Korea Eximbank, have signed in Seoul, a Memorandum of Understanding (MoU) worth USD 5 billion.

According to the MoU, Eximbank will contribute USD 5 billion as a total to finance capital projects for KPC and subsidiaries in oil production, refining and transport as well as petrochemical industries, including the clean fuel project, the KPC said in a statement.

It added that a high-profile delegation represented the KPC in the MOU, led by Mnaging Director for Planning and Acting Managing Director for Finance Mohammed Al-Farhoud.

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