Saudi project finance market may hit $30bn in 2010

Saudi Arabia is on track to complete project finance deals worth about $30bn in 2010, well above the total of about $20bn completed in the whole region in 2009, MEED magazine has reported. The figure is based on a small number of large projects which are likely to reach financial close over the course of the year, including the Jubail and Yanbu refineries planned by Saudi Aramco and an aluminium smelter being developed by Saudi Arabian Mining Company (Maaden), according to MEED.