Ahli Bank SAOG, one of the leading commercial banks in Oman, has signed an agreement to provide credit facilities of USD 50 mn with Sohar Aluminium Co. LLC. The loan is to fund the working capital requirements of the company.

Ahli Bank SAOG along with its strategic partner Ahli United Bank has been an active player in Oman, financing a number of key projects in the country, which are of strategic importance to the economy of the Sultanate. Sohar Aluminium, one of the leading manufacturing companies in Oman, is owned jointly by Oman Oil, Abu Dhabi Electricity & Water Authority and Rio Tinto Alcan. The Company has a 360,000 tonne per annum Aluminium Smelter project with 1000 MW power generation facilities in Sohar.

Speaking on the occasion, Mr. Abdulaziz Al Balushi, CEO of Ahli Bank SAOG said : We are delighted to be associated with Sohar Aluminium. Ahli Bank will continue to play an active role to support and be part of initiatives taken by the Government for the economic development of the country. Our strategic tie up with Ahli United Bank gives us the necessary expertise and the capability to handle very big project financing transactions in the country. We have a strong team of highly experienced professionals who can structure and customize deals to suit the requirements of each and every Corporate in Oman.