Tunisia: STEG receives Parliament’s approval to import $ 154 million of natural gas

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    The House of People’s Representatives has adopted at a plenary a bill authorizing the STEG to mobilize a sum of 154 million dollars (about 460 million dinars) for the import of natural gas.

    The bill concerns a Murabaha contract (including the acquisition and sale of a property at a cost price plus a known and agreed profit margin between the bank and the customer) concluded between STEG and the International Islamic Trade Finance Coporation (ITFC).

    The contract provides for a 2.1% LIBOR margin and a six-month repayment from the date of each revolving withdrawal.

    The objective of the contract is to strengthen cooperation between Tunisia and ITFC, under the Islamic Development Bank (IsDB) Group, through its contribution to financing the import of natural gas for the benefit of STEG.

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