Sunday, 16 June 2019
Western Australia’s parliament has passed legislation to establish advisory body Infrastructure WA, which will now begin operations. Its first task is to prepare a 20-year infrastructure strategy to identify new projects. As well as preparing a strategy, Infrastructure WA will also be responsible for assessing and reporting on major government infrastructure proposals before investment decisions are made. This will include providing advice on infrastructure priorities, and funding and financing options that will include asset sales and PPPs. Infrastructure WA will be run by an independent board comprising up to 10 members appointed by the state premier.
The Asian Development Bank is funding Bangkok’s US$3bn MRT Pink and Yellow Lines. It joins the local banks, completing a US$2bn debt financing for the latest MRT in the capital. By Minerva Lau.
The landmark Oltin Yo’L GTL project, successfully reached financial close in May. The Oltin Yo’L GTL is one of the largest and most complex oil and gas projects to have been embarked upon in Uzbekistan. The project, with total costs in excess of US$4bn, will upon completion become the third largest GTL plant by volume in the world. By Jason Kerr, Kamilla Azamat, Kamran Ahmad, and Grace Williams, White & Case LLP.
Last month, financial close was achieved on one of the largest greenfield mining project financings in African history, the US$1.4bn Guinea Alumina Corporation project. By Dan Feldman, Nick Buckworth, Anthony Lepere, Ryan Gawrych, Anna Duncan, Claire Hunter and Faye Al-Ismail, Shearman & Sterling LLP.
The renewables sector remained the most vibrant energy market over the past year, while the TAP pipeline brought back attention to mega oil & gas projects. PFI’s Global Energy Report 2019 looks at emerging renewables markets, such as Poland and Vietnam, alongside established ones, such as Belgium and Scotland, with an eye on the boom under way in Spain and Australia. The report examines new structures such as US energy P3s and Asian Green bonds and offers an outlook on LNG and FPSO financings.
Welcome to the 2019 Thomson Reuters Project Finance International (PFI) Yearbook. The Yearbook is our annual publication in which we look at the events of 2018, through case studies and the PFI Awards, and look forward into 2019 with interviews and articles in the Global section of the book.
China’s move to increase import tariffs on US LNG from 10% to 25% from June 1 appears to be having little immediate effect. Indeed, last week was a bumper one for announcements from the US LNG export sector.
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