Shoaiba heads for financial close
- From: Vol 6, Issue 11 (November 2005)
- Category: General
- Region: Middle East
- Country: Saudi Arabia
- Related Companies: ABN Amro, Al Rajhi Bank, Arab Bank, Clifford Chance, Fichtner, Hermes, HSBC, ILF Consulting Engineers, Malakoff, Riyad Bank, Saudi Hollandi, Standard Chartered Bank, Tenaga Nasional Bhd and Trowers & Hamlins
The developers are seeking to raise about $2 billion of project finance debt.
Saudi Arabia’s Shoaiba IWPP looks set to reach financial close before the end of the year following the initialling of key project agreements last month. It will be the Kingdom’s first IWPP financing and the second largest Middle East IWPP financing of 2005.
Four documents, including a power and water purchase agreement, share sale and purchase agreement, shareholders ...
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