Abu Dhabi Exclusive Business
Posts 1-5 of 5
Uta Gruda اوتا غرودا Premium Member Group moderator09 Apr 2010, 2:55 pm
Jeddah, 27.3.2010 : The Islamic Development Bank approved US$120 million loan to participate in the Islamic financing facility for Jubail Refinery and Petrochemical Project, considered to be one of the most strategic projects for Saudi Arabia.
The construction of the refinery will take place over a period of four years and will be implemented by Saudi Aramco TOTAL Refining and Petrochemical Company (SATORP), owned by Saudi Aramco (62.5%) and TOTAL of France (37.5%). The project management team of the two companies will be managing the day-to-day construction progress together with Technip of Italy to assist with project coordination.
The project company will construct, operate and manage the project, refining 400,000 bpd of heavy crude, converting it into high value added distillates and petro chemicals. The project, to be constructed at a capital cost of US$12.8 billion, is being financed by all Saudi commercial banks, the Saudi Industrial Development Fund, Public Investment Fund, Barclays, JP Morgan, Deutsche Bank, HSBC, BNP Paribas and Citigroup.
The timing of the project is strategically important, indicating that Saudi Arabia in particular and the region in general, have remained resilient to the economic crisis and back on track for growth.
Source: Islamic Development Bank
Sher Saddozai Group moderator24 May 2010, 4:51 pm
Uta Gruda اوتا غرودا Premium Member Group moderator07 Jun 2010, 10:56 pm
Sorry for not writing earlier.
@IDB: This is for sure your opinion about IDB. What I did write here are facts from the press.
On the other hand there are a lot of professional and good people, also woman that are head of investment at IDB.
IDB is a big help for many counties, not only Muslim countries.
Sher Saddozai Group moderator10 Jun 2010, 3:22 pm
I am sure lot of less political but very lovely people are everywhere!
Uta Gruda اوتا غرودا Premium Member Group moderator11 Jun 2010, 12:33 pm
Yes you are right. And because you are one of this good people, I have some good news for you:
Maybe will be in Pakistan with a German government delegation from 12-16th September, in Islamabad und Karachi.
Well Pakistan is not in GCC where is all my business and investment but Pakistan with his excellent Geo-position is an important Market with a great potential also for Germany. So direct investment from Germany in Pakistan are 5x more from 2004-2008. In 2009 the trade volume is 1 Milliard Euro, Germany export in Pakistan at first machinery, chemical products and electro technology. Pakistan has great potential also in Energy area and railroad sector.
Sher please let me know if you will be there in this time. My pleasure to meet and talk to you personally and maybe beginning good business together.
Wish you all a great weekend.