During 2006, HSBC Amanah was involved in four project finance transactions, each of which demonstrated the bank’s product depth and innovation. The standout deal was a $600 million Islamic financing that contributed to the development of a $9.9 billion Saudi petrochemicals complex in Rabigh. PetroRabigh is a joint venture between Saudi Aramco and Sumitomo Chemical. The Islamic tranche was a financing based on the procurement of a number of core project assets and an Islamic forward lease of those assets to the project.
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