Roy Hill Holdings Pty, controlled by Asia’s richest woman Gina Rinehart, said talks are advanced to obtain A$7 billion ($6.5 billion) in funding for its Australian iron ore project, even as the price of the material this week fell the most in four years.
Middle Eastern and North African companies planning $740 billion in energy projects will need to tap foreign export credit agencies and local banks as commercial lending to the industry slumps to a nine-year low.
John Leahy, chief operating officer at Airbus SAS, spoke yesterday about the outlook for global aircraft demand. The world’s largest maker of commercial aircraft said airlines will buy 25,000 planes worth $3.1 trillion over the next 20 years, buoyed by Asian sales and increased demand for single-aisle models. The forecast is 3 percent higher than the 24,300-aircraft, 20- year requirement predicted by Toulouse, France-based Airbus in February 2008. Laurent Rouaud, senior vice president of market and product strategy, and Stefan Schaffrath, head of media relations, also spoke at the news conference in London.
Santos Ltd., the Australian energy company building the $16 billion Gladstone liquefied natural gas project in Queensland state, obtained $1.2 billion in debt facilities backed by three government export credit agencies.
Azerbaijan’s state oil company, known as Socar, is in the final stages of negotiations for a $3.5 billion loan to help build a refinery in Turkey, said Kenan Yavuz, chief executive for the company’s Turkish unit.
Roy Hill Holdings Pty, Australian billionaire Gina Rinehart’s unit that’s seeking to raise A$7 billion ($7.3 billion) in debt to build an iron ore mine, said it expects to complete funding by the end of the year.
Argentina, locked out of overseas markets since its record $95 billion default in 2001, took another step toward a return to selling international bonds by agreeing to repay its debt to the Paris Club.