Abu Dhabi – Mubasher: Middle East Oil Refining Co. (MIDOR) has appointed National Bank of Abu Dhabi (NBAD) and National Bank of Egypt (NBE) as co-financial advisors as regards financing the company’s expansions to boost refining capacity.

The company plans $1.4 billion refinery expansion project to increase refining capacity from 100,000 to 160,000 barrels of crude oil per day.

Both banks will advise MIDOR on the structuring and raising of a long-term limited-recourse financing involving both international and local financing sources.