Aramco Venture Seeks Loan of About $6 Billion for Gas Project
- Venture with Air Products and ACWA is in talks with banks
- Standard Chartered, Banque Saudi Fransi advising on loan
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A joint venture between Saudi Aramco, Air Products & Chemicals Inc. and ACWA Power is in talks with banks to raise about $6 billion in debt, people with knowledge of the matter said.
The entity will use the funding to buy gasification and power facilities as well as associated utilities from Aramco, the people said, asking not to be identified because discussions are private. The assets will be transferred to the venture once the projects starts up.