Emaar the Economic City has confirmed that it has appointed HSBC as financial adviser on the development of infrastructure projects at King Abdullah Economic City, in a contract expected to involve raising $15bn of financing.
The project includes advisory and structuring work on financing for all of the city’s power, water, waste water and solid waste requirements.
It is also expected to include the power distribution network, a $3bn port to be developed by DP World and a $5bn aluminium smelter (MEED 29:8:08).
HSBC has also been awarded the mandate to act as financial adviser on a $5bn aluminium smelter project in Jizan Economic City (MEED 25:9:08).
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