KUALA LUMPUR: Pengerang Energy Complex Sdn Bhd (PEC) has negotiated financing terms for US$3.5bil in project financing from export credit agencies (ECAs) across North America, western and southern Europe, Asia and Islamic financing from Islamic Development Bank entities. In a joint statement yesterday, PEC said the capital secured will be channelled to implement a US$5.3bil latest-generation, low-carbon petrochemical facility.
The five ECAs are the Export-Import Bank of the United States; Euler Hermes AG from Germany, Italian export credit agency, Compañía Española de Seguros de Crédito a la Exportación; Export-Import Bank of Malaysia Bhd and Islamic Development Bank. Their representatives were in Kuala Lumpur to ratify the terms for the financing agreements with PEC representatives.
