Middle East
The Admiralty Group and its principals have completed the following assignments in the Middle East Region
Bahrain: Survey of Project Financing Requirements
Organized and conducted a comprehensive survey of project financing needs in the country in close cooperation with Bank of America’s Project Finance Department.
Egypt: Misr American International Bank
Established a complete credit system, including developing and implementing policies and procedures for credit approval and review, loan administration, problem loan work out and recovery, and credit training, for a multi-branch international bank majority owned by the Government of Egypt's Development Industrial Bank. Opened new branches on time and within budget, including policies and procedures, fit out, computer systems, and related UPS issues; security, vault and custodial issues, recruitment and training; etc. Funded by Bank of America, a minority shareholder.
Egypt: Eli Siag Penta Hotel
Supervised the construction financing of a four star hotel within sight of the pyramids, to be operated by Penta Group. We developed a full feasibility study and cash flow projections, structured and supervised financing.
Egypt: Gillette Manufacturing Facility
Participated in the syndicated financing of a razor and blade manufacturing facility in Egypt. This included project evaluation, development of cash flow models, and lending to this project financing.
Egypt: Exide Battery Factory
The construction and finance of a motor car battery manufacturing plant in Egypt. Full evaluation of project feasibility and participation in syndicated loan.
Egypt: El Arish Marriott Hotel
Structured, arranged and supervised financing and funding of a four star seaside tourist hotel. Ongoing credit review of project to monitor construction progress and funding against progress payments.
Kuwait: Survey of Project Financing Requirements
Organized and conducted a comprehensive survey of project financing needs in the country in close cooperation with Bank of America’s Project Finance Department.
Morocco: Development of Loan Guarantee Facilities
Analyzed two loan guarantee facilities with various commercial banks in Morocco. Project included the negotiation and restructuring of the loan guarantee facilities and the development of training plans for bank staff. A USAID funded project.
Saudi Arabia: Survey of Shipping and Ship Finance in the Kingdom
Organized and conducted a comprehensive survey of Saudi shipowners, including repeated visits to shipowners in the Kingdom. A Bank of America Project.
Turkey: Hilton International Hotels Inc.
Structured the financing, arranged US Overseas Private Investment Corporation guarantee on debt, prepared sales memoranda, and placed the debt for the construction and financing of a new five star hotel in Ankara, Turkey.
Turkey: Real Estate Development
Evaluated real estate development opportunities in Turkey in collaboration with German development group. An Admiralty Investment Group project.
Turkey: Investor Survey to Support Bulgarian Privatization Projects.
Surveyed Turkish investment market, identified suitable investors for Bulgarian manufacturing companies being privatized by Admiralty for the Bulgarian Ministry of Industry. Established numerous strategic alliances.
United Arab Emirates: Survey of Project Financing Requirements
Organized and conducted a comprehensive survey of project financing needs in both Dubai and Abu Dhabi.