Islamic finance for proposed Iran-Kuwait pipeline
- From: Vol 2, Issue 7 (July 2001)
- Category: General
- Region: Middle East
- Country: Iran, Islamic Republic of and Kuwait
- Related Companies: Aon, Black & Veatch, Dresdner Kleinwort Wasserstein (Dresdner Kleinwort Benson), Dubai Islamic Bank, Ernst & Young and Trowers & Hamlins
Part of the pipeline project to transport fresh water from northern Iran to Kuwait is likely to be financed by tapping Islamic banking sources.
Dubai Islamic Bank (DIB) has expressed interest in a possible mandate to arrange an Islamic tranche for the proposed $2 billion project. A number of Kuwaiti and Iranian banks have also shown interest in non-recourse project financing.
Gulf Utilities, the British company planning to build the pipeline, hopes to carry out the scheme on a 30-year BOT basis. Cash flow ...
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