France-based Calyon Bank was selected to finance the acquisition of a "Med-Max" LPG tanker (75,000 cubic metres), during a ceremony where offers were revealed Wednesday at the Algerian oil company Sonatrach's seat in Algiers.
Calyon, a merger between Credit Agricole and Credit Lyonnais, offered the best services in terms of debt ($6,020,501 a year out of a debt of $121,014,332), the only criteria taken into consideration. According to APS, two other banks, French Societe Generale (France) and German Commerz Bank, also tendered for this project.
© 2004 Mena Report (www.menareport.com)
