Adnan Khashoggi received a U.S. loan guarantee.
A company owned by the Saudi Arabian billionaire has received a $79.6 million federal loan guarantee to build a $100 million ethanol plant in New Iberia, La. Energy Secretary John S. Herrington’s approval of the loan guarantee for Agrifuels Refining Corp. was reported by Sen. J. Bennett Johnston’s (D-La.) office. Agrifuels is a subsidiary of Edgington Oil, which in turn is owned by Triad America, a concern which controls the Khashoggi family’s holdings in the United States.