PRL secures Rs3.15bn loan for expansion project

MG News | January 08, 2025 at 10:48 AM GMT+05:00

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January 08, 2025 (MLN): The Board of Directors of Pakistan Refinery Limited (PSX: PRL) has approved the acquisition of a loan facility amounting to Rs3.15 billion from Pakistan State Oil Company Limited (PSX: PSO).

The loan will be used to finance the Company's Front-End Engineering Design (FEED) of the Refinery Expansion & Upgrade Project (REUP), the notification issued to the local bourse.

This loan includes an option to be converted into equity in the future.

However, the conversion will be subject to obtaining all necessary corporate and regulatory approvals that may be required at that time.

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