KARACHI: The board of directors of Pakistan Refinery Limited (PRL) has approved the acquisition of a loan facility amounting to Rs 3.15 billion, from Pakistan State Oil Company (PSO) to finance the Company’s Front-End Engineering Design of the Refinery Expansion and Upgrade Project.
This loan has an option of conversion into equity, which will be subject to all requisite corporate and regulatory approvals that maybe required then, material information sent to Pakistan Stock Exchange on Wednesday said.
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