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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

BHP/Rio venture boosts Fortescue fortunes

Posted on 09 July 2009

From Guardian: The BHP-Rio deal raises the probability of China financing Fortescue’s expansion, with China Investment Corp, a sovereign wealth fund being advised by Deutsche Bank, the most likely investor to offer funding, sources said.
Fortescue would need $5.2 billion to more than double its annual output to 120 million tonnes in a next expansion phase, CLSA estimates. Fortescue is forecast to ship 26 million tonnes in fiscal 2009……..Full Article: Source


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