GOIC and Gulf One Bank form a project development company

The sector focus in Infrastructure and Energy-related projects.

Dr. Ahmed Al-Mutawa'a, the Secretary General of GOIC, illustrated that the vital role of the new company is to capitalize on the considerable in-house technical expertise in industrial consulting within the organization. The latest development of the enormous opportunities in Industrial and Infrastructure sectors in the Gulf region compelled the establishment of this joint venture. The key objective of this venture is to improve the private sector's access to industrial projects and to support theist decision making by providing structured and reliable methodology that will enhance the quality of investments in such projects.

Dr. Nahed Taher, the CEO and a board member of Gulf One Bank, stressed on the aligned vision of the bank and GOIC on the growing market demand for such services in the region. G1 blends global standards and regional knowledge in the financial evaluation and planning for mega projects. The bank's involvement in this joint-venture aim to enhance the returns and eliminate the downside risks or constrains on such sophisticated, sizable and long-term projects.

Project sponsors face many uncertainties as they move a project idea from business concept and feasibility assessment to construction financing. Early definition of a project's financial structure, economic drivers and potential development obstacles significantly improves the project's successful and cost-effective implementation. Understanding and optimizing the complex relationships among the technical, financial and development aspects of a project requires an integrated team with multidisciplinary expertise.

Both GOIC and G1 believe that the project development company through early collaboration with their clients' project teams, by providing feasibility studies and financing plans will integrate a project's technical, financial and development information to arrive at economically viable project options. GOIC has already performed these services for many clients across a variety of industries, for the Gulf governments, resulting in high professional credibility and strong relationships with major international institutions.

The new partnership with G1 aims to strengthen these services to attract various private sector institutional and individual investors including banks, capital markets and private investors, as well as government-supported export credit and multilateral agencies.