Algeria's Sonatrach receives $ 340 million loan from EIB

Sep 20, 1997 02:00 AM

The European Investment Bank (EIB) has granted a $ 340 million loan to Algeria's Sonatrach. The loan is earmarked for financing 4 compressor stations on the Alrar-Hassi R'mel gas pipeline.
The 18-year loan "is the most important granted by the EIB to a non-European Union firm", noted the statement by the energy and mines ministry.
The EIB has already participated in financing other gas projects in Algeria, such as the Maghreb-Europe gas pipeline and development of the Rhourde-Nouss gas fields.

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