Commercial Bank of Kuwait Says Signs Syndicated Loan Agreement

Commercial Bank of Kuwait signed a syndicated loan with Al-Ghanim International General Trading & Contracting Co. to finance the second phase of a $1.2 billion project to expand the country’s Al-Zour South power plant.

The facility was arranged with a group of local and regional banks, including Al-Ahli Bank of Kuwait (ABK), Burgan Bank (BURG) SAK, Dubai’s Mashreqbank PSC (MASQ) and Arab Banking Corp., the Kuwaiti lender said in an e-mailed statement today.

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