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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

GIC cooperates with GDF SUEZ to recourse finance USD 2.1 bln project

Posted on 27 July 2009

From Menafn.com: Gulf Investment Corporation (GIC) announced on Sunday that in cooperation with GDF SUEZ, they have completed the limited recourse financing of the Al-Dur Independent Water and Power Producer (IWPP) project -the largest privately-owned industrial project in Bahrain- with the cost of USD 2.1 billion.

The Kuwait based corporation said in a press release that “Financing a project of this size is a landmark in the financial markets after the advent of the economic crisis.” On the 28th of August 2008, the Project was awarded to GDF SUEZ and GIC by the Bahrain Ministry of Finance following an international competitive tendering process………..Full Article: Source


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