$160 Million Earmarked For New Ships

Wednesday, December 29, 1999
Nigeria Liquefied Natural Gas (LNG) said its transport subsidiary had secured a $160 million loan for two new ships from banks led by Credit Suisse First Boston. The company the loan would cover much of the cost of the ships -- being built by Korea's Hyundai Heavy Industries Co. Ltd.-- that will be needed to transport gas when a 50 percent expansion to the vast Bonny LNG plant is completed at the end of 2002.

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