Arab bankers discussed strategies to finance investment in the regional hydrocarbon and petrochemical industries until 2000 at a three-day conference held in Doha on 28-30 November.
‘Forecasts indicate that in excess of $50,000 million will be needed to finance oil, gas and petrochemical projects in the few remaining years of this century. But few studies have been made to evaluate strategies and risk involved in financing such projects,’ a banker told Reuters at the conference.
Projects in the planning stage include $15,000 million worth of petrochemical projects in the GCC. More than $9,000 million is likely to be financed by loans, bankers say. The GCC states are looking for private and international companies to participate in large-scale petrochemical investment (MEED 2:12:94, Regional Focus).