Economy and macroUpdated November 4

The terminal and ammonia deals have different financing terms

The $1.4 billion total covers two projects, not one package with identical terms. More than $928 million (AED 3.4 billion) went to the chemicals export terminal, including a $225 million (AED 826 million) Islamic financing tranche—not an extra amount on top. The terminal financing is long-term and non-recourse, involving nine regional and international banks. The ammonia project raised more than $460 million (AED 1.7 billion) through a six-year facility from seven banks in China, Kuwait, Spain and Singapore. Same Ruwais buildout, but each project has its own financing terms.

1 publisher1 report

Coverage started November 4