Citadel Capital MD focuses on the bright side of instability
Despite the political and economic turmoil that has ensued post-Arab Spring, opportunities are out there for those who have the appetite to carry out complex deals that address the region's most compelling problems and the ability to access non-traditional sources of finance.
In a keynote speech delivered at SuperReturn Middle East 2012, Citadel Capital Co-Founder and Managing Director Hisham El-Khazindar told audiences that despite the economic and political fallout of the Arab Spring, finding opportunities during times of instability is still possible.
El-Khazindar presented Citadel Capital's Egyptian Refining Company (ERC) as a case study of a project that is of strategic importance to Egypt and outlined how the firm managed to reach financial close on the $3.7bn refinery on the eve of Egypt's first Presidential election.
"Citadel Capital has a proven history of raising funds in challenging times, as we illustrated during the 2008-09 financial crisis and again this year," said El-Khazindar.
"Despite adverse conditions, we have closed a $3.7bn package to construct a greenfield petroleum refining project in the Greater Cairo Area. This landmark investment led by Citadel Capital also includes top Egyptian, Gulf and international investors, global export credit agencies and development finance institutions who have contributed $2.6bn in debt and $1.1bn in equity."
In a keynote speech delivered at SuperReturn Middle East 2012, Citadel Capital Co-Founder and Managing Director Hisham El-Khazindar told audiences that despite the economic and political fallout of the Arab Spring, finding opportunities during times of instability is still possible.
El-Khazindar presented Citadel Capital's Egyptian Refining Company (ERC) as a case study of a project that is of strategic importance to Egypt and outlined how the firm managed to reach financial close on the $3.7bn refinery on the eve of Egypt's first Presidential election.
"Citadel Capital has a proven history of raising funds in challenging times, as we illustrated during the 2008-09 financial crisis and again this year," said El-Khazindar.
"Despite adverse conditions, we have closed a $3.7bn package to construct a greenfield petroleum refining project in the Greater Cairo Area. This landmark investment led by Citadel Capital also includes top Egyptian, Gulf and international investors, global export credit agencies and development finance institutions who have contributed $2.6bn in debt and $1.1bn in equity."