Shuweihat financing slips
- From: Vol 2, Issue 11 (November 2001)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Abu Dhabi Investment Company, Bank of Tokyo-Mitsubishi, Barclays Capital, Citibank, CMS Energy, Fisia Italimpianti, International Power, KfW, National Bank of Abu Dhabi, Royal Bank of Scotland and Siemens
PROJECT FINANCING OF ABU DHABI’S SHUWEIHAT IWPP is not progressing as smoothly as anticipated. The original financial closing date was 22 October but it is uncertain if the deal will close before the start of the Holy month of Ramadan.
The third of ADWEA’s IWPP schemes, Shuweihat is a gas-fuelled 1500MW combined cycle power plant and 100MIGD desalination facility. The plant will be built at Jebel Dhana, near Shuweihat, around 250km west of the city of Abu Dhabi.
Only eight banks came in at the initial underwriting phase, which means that the arranging team of Barclays Capital, Citibank, Bank ...
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