Project Financing News
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Banca Monte dei Paschi di Siena SpA, the bailed-out Italian lender embroiled in a fraud probe, is unlikely to attract investment interest from foreign banks operating in Italy, said Guido Rosa, head of the association of foreign banks in the country.
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Royal Nickel Corp., the developer of the Dumont nickel mine in Quebec, aims to arrange funding for the $1.2 billion project before it receives permits next year, the company’s chief executive officer said.
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Shinsei Bank Ltd. plans to increase project financing fourfold in the next three years to take advantage of higher spreads for infrastructure loans and reduce reliance on regular corporate lending amid rising competition.
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Goldman Sachs Group Inc., the New York-based bank planning as much as 300 billion yen ($3.19 billion) in renewable energy investments in Japan, is eyeing offshore wind power after building up holdings in more established clean energy sources such as solar.
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The European Investment Bank is considering loans to countries affected by heavy flooding that could be on the scale of the 1 billion euros ($1.3 billion) provided in 2002 under similar conditions, the Luxembourg-based EIB said today.
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Sasol Ltd., the world’s largest maker of liquid fuel from coal, will seek cost cuts as expenses increase in South Africa and will decide on how to proceed with an investment in Uzbekistan by the end of the year.
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Norton Rose Fulbright LLP, the transatlantic combination of London-based law firm Norton Rose LLP and U.S. law firm Fulbright & Jaworski LLP was completed yesterday as the firm announced its leadership.
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Sumitomo Corp., a Japanese trading company, will build three solar power stations in Japan with a combined capacity of 49 megawatts.
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Siemens AG’s project-financing unit is on track to meet its growth target ahead of schedule, helped by demand from Asian customers for credits to support infrastructure investments.
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The Democratic Republic of Congo will be ready to build the 4,800 megawatt Inga III hydroelectric plant by 2015, after two failed attempts to kick-start the $12 billion project, Minister of Energy Bruno Kapandji said.
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