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| Home » EMEA » Middle East
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| Middle East market diversification |
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Data: GDP / gross capital formation, UNCTAD; Oil price, BP plc.
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Gross capital formation has remained stable at about one fifth of gross domestic product in the Gulf Cooperation Council countries. As a result of the dramatic rise in oil prices over the last decade – the largest contributor to GDP and driver of the bloc’s economy – investment in fixed capital assets more than doubled in the four years to 2006. This illustrates the recent trend of petrodollars being invested in projects such as aluminium and steel smelters, universities, hospitals, power generation, water desalination and tourism infrastructure, contributing to the diversification of the GCC economies.
SMBC group’s expertise in this rapidly changing market ensures that it is at the forefront of project and corporate finance in the region. SMBC joint arranged the US$4.9bn limited recourse financing for Emirates Aluminium which was voted Project Finance International’s EMEA industry deal of the year in 2007.
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| Structured Finance > Infrastructure & PPP |
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