FINANCE FOR REFINERY
Institutions’ Loans To Ampol (N .Z.P.A .-Reuter—Cop vriph t) MELBOURNE, March 31. Four of Australia’s trading banks will provide £8,344,000 on a term basis for the financing of a new £2lm Ampol Petroleum refinery in Brisbane. The four banks are the Bank of New South Wales, National Bank of Australasia, Commonwealth Trading Bank of Australia, and the Australia and New Zealand Bank, Ltd. Announcing this, the chairman of Ampol I’etrolettm, Ltd. (Mr L. J. Tlompeou) said that this method of joint finance by Australian banks could set the pattern for the financing of other major projects in Australia which had previously to depend on overseas capital. The balance of the loan money, £sm, wild be provided by other inirtitutions, including the A.M.P. Society. M.L.C., National Mutual Life, T. and G. Government Insurance Office of New South Wales, Bank of New South Wales Staff Provident Fund, and the A.P.A. Ampol Petroleum will provide £7.7m from an issue to ordinary shareholders, which will be underwritten by Messrs J. B. Were and Son. The refinery is planned to come on stream in mid-1965 and the coat to that point will be £21,034,000.
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Press, Volume CII, Issue 30095, 1 April 1963, Page 20
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192FINANCE FOR REFINERY Press, Volume CII, Issue 30095, 1 April 1963, Page 20
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