Oman Oil Refineries and Petroleum Industries Company SAOC (Orpic) has closed a USD 3.8 billion project financing facility for its approx. USD 6.5 billion Liwa Plastics Industries Complex in the Sohar Industrial Port Complex (LPIC) in the Sultanate of Oman.

The financing is supported by Export Credit Agencies (ECAs) representing the governments of Germany (Euler Hermes), Italy (SACE), Korea (K-Exim and K-Sure), the Netherlands (Atradius Dutch State Business) and the United Kingdom (UKEF), along with 19 international, regional and local commercial lenders.

The financing was completed on an accelerated basis to ensure compatibility with the project’s ambitious construction schedule. Commissioning of the project is scheduled for 2020.

The EY-AHB Alliance has supported the ECAs as ECA Coordinator, providing interdisciplinary due diligence support, financial analysis, transaction management and negotiation support. In addition the EY-AHB Alliance has acted as Independent Chartered Auditor for the Federal German Government.