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Tuesday, 10 December 2019

Marigold reaches financial close

PFI Issue 662 - December 4, 2019

Petronas (50%) and Saudi Aramco (50%) have finally completed putting together the massive US$9.5bn multi-tranche debt financing for their Refinery & Petrochemical Integrated Development (RAPID), the Marigold project, after months of delay.

Kasific satellite gets ADB boost

PFI Issue 662 - December 4, 2019

The Asian Development Bank (ADB) has signed a US$50m loan facility with Kacific Broadband Satellites International (Kacific) to finance the Asia-Pacific remote broadband internet satellite project, the first satellite financing the bank is involved in.

Vietnam's PM goes for solar auction

PFI Issue 662 - December 4, 2019

Vietnam’s Prime Minister Nguyen Xuan Phuc has finally decided on a competitive auction, rather than feed-in tariffs (FiTs), for new solar energy projects.

One Energy loan signing in Q1

PFI Issue 662 - December 4, 2019

One Energy, a joint venture between Hong Kong-based CLP Holdings and Mitsubishi’s Diamond Generating Asia (DGA), and its banks are expected to sign the loan in Q1 for the US$2.2bn Vung An 2 Power Co (Vapco 2).

Hyflux and Utico agree long-awaited rescue deal

PFI Issue 662 - December 4, 2019

Singapore-based water treatment company Hyflux and Utico of the United Arab Emirates have finally reached agreement on the restructuring of Hyflux’s debt and organisation.

Gulf PD loan detailed

PFI Issue 662 - December 4, 2019

Gulf PD, the project company set up by Independent Power Development, the joint venture between Gulf Energy Development (GED,70%) and Mitsui & Co (30%), has raised a US$1.366bn loan.

Blackstone Minerals tie up with Ecopro

PFI Issue 662 - December 4, 2019

Australia’s Blackstone Minerals has signed a non-binding joint venture agreement with South Korea’s Ecopro BM Co to develop nickel, cobalt or other minerals for battery manufacturing.

Udenna appoints MLAs on Malampaya debt

PFI Issue 662 - December 4, 2019

Udenna Corp, through subsidiary UC Malampaya Philippines, has appointed mandated lead arrangers ANZ and ING to seek about US$400m of debt to finance its acquisition of the 45% stake held by Chevron in the Malampaya deep-water gas-to-power project offshore Palawan.

Interest shown in Sangley Point airport

PFI Issue 662 - December 4, 2019

A number of companies are indicating interest in developing a commercial airport at Sangley Point, a former US navy base.

Govt rejects PXP proposal for Malampaya hub

PFI Issue 662 - December 4, 2019

The Philippine government has rejected the unsolicited proposal of listed exploration company PXP Energy Corp to take over the Malampaya gas exploration service contract and develop an integrated gas hub in the area.

Udenna-China Telecom team to raise loans

PFI Issue 662 - December 4, 2019

A consortium comprising Udenna Corp of Davao-based Dennis Uy and state-run China Telecom has been declared the provisional third telecoms company in the Philippines after two other final bidders failed to meet requirements.

Tourism body seeks PPP partners

PFI Issue 662 - December 4, 2019

The Philippines’ Tourism Infrastructure & Enterprise Zone Authority (TIEZA) has issued invitations to the private sector for two projects it plans to develop through public-private partnerships (PPPs).

JICA approached to support auto train system

PFI Issue 662 - December 4, 2019

The Cambodian government has approached Japan International Cooperation Agency (JICA) to support its plan to develop Phnom Penh’s automated guideway transport system, known as AGT.

PSALM to review Malaya bidding after failure

PFI Issue 662 - December 4, 2019

The Philippines’ Power Sector Assets & Liabilities Management Corp (PSALM) will review the bidding requirements for the 650MW Malaya thermal power plant (MTPP) after the failure of the second bidding last month.

PetroGreen gets nod for San Vicente wind

PFI Issue 662 - December 4, 2019

PetroGreen Energy Corp (PGEC), the renewable energy holding unit of PetroEnergy Resources, part of Yuchengco Group, has secured approval from the Philippines’ Department of Energy to develop and operate a wind farm project in San Vicente, Palawan, approximately 130km north of Puerto Princesa.

MRT-7 starts depot construction

PFI Issue 662 - December 4, 2019

Construction has started on the depot for the much-delayed Metro Rail Transit Line 7 (MRT-7) following clearance of a major right-of-way obstacle along Quirino Highway in Quezon City.

Launch of Balikpapan loan delayed

PFI Issue 662 - December 4, 2019

The launch of the US$3bn–$3.5bn debt facility to upgrade Pertamina’s Balikpapan refinery is likely to be pushed back to early next year.

Greenergy submits Manila tramway proposal

PFI Issue 662 - December 4, 2019

Greenergy Holdings, owned by businessman Antonio Tiu, has submitted an unsolicited proposal to the local government of Manila City to build a tramway.

Govt to auction WtE projects

PFI Issue 662 - December 4, 2019

The Indonesian government plans to auction at least three waste-to-energy (WtE) projects this year under the public-private partnership (PPP) scheme. They are in Semarang, Makassar and Tangerang on Java island.

Bulacan airport PF in H2 2020

PFI Issue 662 - December 4, 2019

San Miguel Corp and financial advisers SMBC and Standard Chartered are expected to start the financing process for Bulacan International Airport in the second half of 2020.