HASCOL to receive facilities worth $42 million from a major shareholder

MG News | July 19, 2019 at 04:39 PM GMT+05:00

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July 19, 2019 (MLN): Hascol Petroleum Limited and Vitol Dubai Limited have entered into financial arrangements, whereby the latter has agreed to provide facilities of USD 42 million to Hascol.

According to the Company’s notification to PSX, the aforesaid facility comprises of Bank Guarantee worth $15 million, Open Credit Limit facility worth $12 million and Stock availability at HTL Port Qasim Terminal worth $15 million.

The notice further stated that ‘the arrangement will further strengthen the supply chain of the Company’.

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