Project bonds could be the next frontier of long-term financing in GCC | GulfNews.com

Project bonds could be the next frontier of long-term financing in GCC | GulfNews.com:

"Project bonds could become a reliable and cheaper source of funding for long term projects such as utilities and infrastructure projects in the context of economic diversification and a new wave of infrastructure spending happening in the Gulf countries, said Karim Nassif, Associate Director, Infrastructure Finance at Standard &Poor’s.
Speaking to Gulf News in an interview, Nassif said infrastructure spending in the GCC is estimated at a total $2 trillion over the next 20 years, largely driven by Qatar’s spending for World Cup in 2022 and growing demands on utility companies. An estimated $100 billion of investment is required in the Saudi power and water market alone through to 2030. The region is also diversifying away from upstream oil and gas revenues through large industrial and energy-related projects. Additionally a number of corporate and infrastructure financings obtained through shorter term funding routes are coming up for refinancing, which could boost the bond issuance in the region."

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