Merna / Chu / Al-Thani Project Finance in Construction

A Structured Guide to Assessment
1. Auflage 2010
ISBN: 978-1-4443-2384-9
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 192 Seiten, E-Book

Project finance has spread worldwide and includes numerousindustrial projects from power stations and waste-disposal plantsto telecommunication facilities, bridges, tunnels, railwaynetworks, and now also the building of hospitals, educationfacilities, government accommodation and tourist facilities.
Despite financial assessment of PF projects being fundamental tothe lender's decision, there is little understanding of howthe use of finance is perceived by individual stakeholders; why andhow a financial assessment is performed; who should be involved;where and when it should be performed; what data should be used;and how financial assessments should be presented.
Current uncertainty in financial markets makes many sponsors ofconstruction project financings carefully consider bank liquidity,the higher cost of finance, and general uncertainty for demand.This has resulted in the postponement of a number of projects incertain industry sectors. Governments have seen tax receiptsdrastically reduced which has affected their ability to financeinfrastructure projects, often irrespective of the perceiveddemand. Equity providers still seek to invest, however there areless opportunities due to market dislocation. Due to the demand forglobal infrastructure it is believed that project financings willreturn to their pre-crunch levels, or more so, howeverlenders' liquidity costs will be passed on to the borrowers.Lenders will also be under stricter regulation both internally andexternally.
The steps outlined in the guide are designed to provide a basicunderstanding for all those involved or interested in bothstructuring and assessing project financings. Secondary contractsinvolving constructors, operators, finance providers, suppliers andofftakers can be developed and assessed to determine theircommercial viability over a projects life cycle.
Special Features
* a structured guide to assessing the commercial viabilityof construction projects
* explains economic metrics to use in the decision makingprocess
* detailed case study shows how stakeholders apply the concept ofproject finance

Autoren/Hrsg.

Merna, Tony

Chu, Yang

Al-Thani, Faisal F.

Über Autor(innen)

Anthony Merna is senior partner of Oriel Group Practice, amultidisciplinary research and consultancy practice based inManchester and a visiting lecturer to Manchester Business School atthe University of Manchester. He has been teaching Project Financefor the last 14 years to a number of UK and overseas universities,businesses and government agencies.
Yang Chu is a graduate of the School of Mechanical,Aerospace and Civil Engineering at the University of Manchester anda research consultant with Oriel Group Practice specialising in theareas of project finance and risk modelling. He is currentlycarrying out risk management research at Manchester BusinessSchool.
Faisal Al-Thani is Senior Development Manager, MiddleEast for Maersk Oil based in Doha and a board member of the MarshInternational Risk Council.