|
Saudi loan to Hyundai
Saudi Arabia-South Korea, Business, 4/24/1999
The bureau of Korean Hyundai Group in Cairo announced that a company for refining petroleum affiliated to the Korean group has agreed with the Saudi National Trade Bank to offer a loan to the Hyundai Group worth $200 million.
Sources from the group said it will use this loan to pay its dues for petroleum purchases from the Arab - American company ARAMCO, but the source did not reveal the details of the conditions concerning this loan.
An official in the Hyundai company expected that the agreement will work to stabilize supplies of raw petroleum to the company, which is currently working on increasing its imports of raw petroleum.
Previous Stories:
Fair for Iranian products in Jeddah
(4/8/1999)
Saudi FM confers with US Marathon Oil company
(4/6/1999)
Saudi trade minister visits Japan
(4/1/1999)
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
|
Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info
|
