Global Capital, February 2016
For the first time in a generation, governments in the Gulf may need more than their own savings to build the infrastructure they need.
In the old days, Gulf Co-operation Council (GCC) states had enough cash to create whatever infrastructure they needed, and simply sought contractors to do the building.
“Historically, general infrastructure such as roads, bridges, railways and ports in the GCC have been financed and developed by governments on a pure EPC [engineering, procurement and construction] basis with construction contracts,” says Mario Salameh, head of project finance for MENA at HSBC.
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