Middle East Economic Survey

VOL. XLVIII

No 39

26-September-2005

UAE

Hyundai Receives $325Mn Trade Finance From Arab Bank For Jebel Ali Power Project

Koreans Hyundai Engineering and Construction signed an agreement on 13 September to receive $325mn in trade financing from Arab Bank for its $696mn engineering, procurement and construction (EPC) contract for Dubais Jebel Ali power and desalination station. Arab Bank is the sole mandated arranger and underwriter for the $175mn equivalent performance...