STOP STOP GO
- From: Vol 10, Issue 4 (April 2009)
- Category: Need to know
- Region: Unspecified
- Country: Algeria, Saudi Arabia and United Arab Emirates
- Related Companies: ACWA Power, Algerian Energy Company , Dubai Electricity and Water Authority , Hyflux, Nakheel and Sumitomo
*The biggest financing in the water sector – the $5.4 billion Ras Azzour independent water and power project in Saudi Arabia – is not looking too pretty (see story p28).
The banking commitments to the first-ranked bidder have expired, and the client is reported to be looking at the possibility of financing the whole project off its own balance sheet. This would be the doomsday option for the Saudi water privatisation programme, and would almost certainly require royal consent. With that in mind, we would expect more wrangling with the ...
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