Patriotic given 15 more days to secure financing for refinery acquisition

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    Patriotic Energies Company Limited has been given 15 more days to secure financing for the Guaracara refinery.

    This is according to Corporation Sole in the matter, Finance Minister Colm Imbert a day after it was announced that Patriotic no longer had exclusivity in the acquisition.

    It also follows the OWTU’s response to the rejection, in which it claimed that it has a commitment from financing firm Credit Suisse raise the money needed.

    Government has now given Patriotic until February 5th 2021 to produce a firm, binding commitment to finance for the acquisition price of US$500 million.