The Export-Import Bank of Korea (Eximbank) said Thursday (Mar. 27) it will provide $800 million to South Korean companies participating in two projects in the Middle East.

The state-run lender will provide $400 million to a local consortium including SK Energy Co. and Korea Gas Corp. to help it secure a stable supply line for liquefied natural gas (LNG) from Yemen through direct financing and overseas debt guarantees, the Eximbank said.

The South Korean consortium has been participating in the project to liquefy natural gas in a gas field, about 180 kilometers east of the Yemeni capital of Sanaa and export it since 2005.

Through project financing, the Eximbank also plans to provide $400 million for Samsung Engineering Co. and Hanwha Engineering & Construction Co. to supply both ammonia production and desalination facilities to a fertilizer plant in Saudi Arabia.

The $5.5 billion fertilizer plant is being built by Saudi Arabian state-run mining company Ma?den and another state-run chemical firm SABIC.



SOURCE : Korea.net