Middle East Economic Survey

VOL. LII

No 11

16-Mar-2009

SAUDI ARABIA

Ras Al-Zour Financial Close Nears

The financing for the Ras al-Zour independent water and power project (IWPP) will be able to close shortly, MEES understands. It was completed early this year, but signing of final documentation is unable to proceed due to changes in the shareholding structure. Unable to raise the funds for its equity contribution, cash-strapped Malakoff of Malaysia has reduced its stake in the project to 8% from...