VOL. XLVII

No 21

24-May-2004

ENERGY FINANCE

GCC Unveils Funding Plan For Regional Power Grid

The six members of the Gulf Cooperation Council (GCC) have unveiled the funding plans for the interconnection of their power grids the Gulf Interconnection Grid, which will be overseen by the Dammam-based GCC Interconnection Authority (GCCIA). The first phase of the project will cost a total of $1.21bn and will be financed by a 35% equity share ($422mn) funded by Saudi Arabia ($169mn), Kuwait ($143mn),...