Global Capital Middle East Report: Cash Strapped Governments Look to Project Finance

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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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Chris Wright
Chris Wright
Chris is a journalist specialising in business and financial journalism across Asia, Australia and the Middle East. He is Asia editor for Euromoney magazine and has written for publications including the Financial Times, Institutional Investor, Forbes, Asiamoney, the Australian Financial Review, Discovery Channel Magazine, Qantas: The Australian Way and BRW. He is the author of No More Worlds to Conquer, published by HarperCollins.

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