Middle East Economic Survey


No 35



CPC Considering Borrowing $1Bn For Pipeline Expansion

The Caspian Pipeline Consortium (CPC) CEO Aleksander Tarakanov announced on 24 August that an initial review of the consortiums capacity expansion plan, which is set to be finalized by 15 December, has indicated that CPC may need to borrow up to $1bn to fund the project. I believe that we wont go beyond $4.6bn [for the expansion cost], but we will know better by the end of the...