January 17, 2019 / 11:26 AM / 7 months ago

Saudi Aramco hires SMBC, Riyad Bank for Amiral project financing - sources

DUBAI/PARIS, Jan 17 (Reuters) - Saudi Aramco has hired Japan’s Sumitomo Mitsui Banking Corp (SMBC) and Riyad Bank to advise on financing Amiral, a petrochemical project it plans to develop with France’s Total, sources familiar with the matter said.

The state-owned oil producer, approached banks for the financing of Amiral, which is expected to be around $5 billion, late last year, sources told Reuters at the time.

Total declined to comment. Aramco, Riyad Bank and SMBC did not immediately respond to requests for comment. (Reporting by Davide Barbuscia in Dubai and Bate Felix in Paris; Editing by Alexander Smith)

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