KARACHI, April 10: The United Bank Limited has provided a Rs500 million long-term loan to the Sui Northern Gas Pipelines Limited to finance the company’s gas infrastructure development plan, says a press release.

The signing ceremony was held at the company’s premises in Lahore, wherein Mansoor M. Khan, country corporate head, signed on the UBL’s behalf and Rashid Lone, managing director, signed on behalf of the SNGPL.

Under its gas infrastructure development plan, the SNGPL will carry 525 mmcfd gas by February 2004 from Sui and newly discovered fields in the South to power plants around Multan.

The company plans to expand its transmission system between Sui and Multan. The UBL is one of the company’s main bankers, and it also manages the entire cash management and gas bill reconciliation for the SNGPL.