Feb 27 2012
|more articles from|
QP finance director says Qatar plans sukuk, PPP law and $8 billion petrochemical projectJumeirah Emirates Towers
Qatar Petroleum ( QP ) director of finance Abdulrahman al-Shaibi told the MEED Project Finance 2012 Conference this morning that Qatar will continue to make use of the project finance market, that the possibility of floating project sukuk is being seriously considered, that a PPP law is being studied and that financing plans are being developed for the $8bn QP -Shell petrochemical plant approved in principle at the end of 2011.
Al-Shaibi, who received the first MEED Leadingership in International Project Finance Award, said that Qatar plans to capitalise on its experience in raising more than $70bn in project financing in the past 15 years to secure further credit from the market for new projects being implemented as part of its long-term economic development plan.
They include the new petrochemical plant being developed in an memorandum of understanding signed by QP and Shell at the end of 2011. This will involve costs of about $8bn and project financing of up to 70 per cent of its capital requirements may be sought. Al-Shaibi said that the market might be approached for project financing in early 2013.
Al-Shaibi said innovative approaches to project financing being considered by Qatar include floating sukuk, a sharia-compliant form of negotiable instrument, and private-public partnerships (PPPs). He said that a PPP law was being developed that could be applied across the government sector.
The conference is supported by the Dubai International Financial Centre (DIFC), Standard Chartered, Akin Gump, Ashurst, ARUP, Chadbourne & Parke and Ernst & Young and was addressed this morning by the chief executive office of the DIFC Authority Abdulla Al Awar.
Thank you your kind words and bestowing this prestigious honor in awarding the first annual MEED project Finance leadership Award during the last twenty years to Qatar Petroleum 's Project finance Team. I am extremely humbled at this honor and graciously accept this award on our teams behalf.
© Copyright Zawya. All Rights Reserved.
- College student snares record long Burmese python near Miami
- What's in a name? U.S. starts using Myanmar as well as Burma
- Marijuana waste helps turn pot-eating pigs into tasty pork roast
- Man climbs onto dome of St Peter's to protest Italian politics
- Prague metro plans to launch love train for singles
- There's More