Middle East Economic Survey

VOL. XLVIII

No 45

7-November-2005

SAUDI ARABIA

Saudi Arabias Shu'aiba IWPP Issues Financing Request

Saudi Arabias first independent water and power project (IWPP), Shu'aiba, has issued a financing request to banks, MEES understands. The information memorandum puts financing costs at $2.453bn, which includes $1.884bn for engineering, procurement and construction (EPC), $93mn owners costs, $380mn financing costs, and $96mn other costs. The financing plan envisages a...