By Wakar Kalhoro and Ian Bracken
Dickens once wrote “it was the best of times, it was the worst of times”. He could well have been describing the Gulf project finance market in the period from early autumn 2008 to the end of 2009.
Not unsurprisingly, the Middle East infrastructure and power market was depressed in 2009 with MEED citing in January 2010 that US$15 billion worth of project finance deals closed in 2009 compared with US$45 billion in...
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