Middle East

Admiralty International 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

Lebanon: Small Business Lending

Undertook an assessment of the business climate for small business lending by commercial banks and microfinance institutions (MFIs) and provided recommendations for capacity building by MFIs.

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.

Morocco: Commercial Bank Due Diligence Review

Conducted a full due diligence review of a state-owned commercial bank to assess its suitability to hold US government funds for disbursement to local projects.

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.

Tanzania: Commercial Bank Due Diligence

Conducted a full due diligence review of 6 commercial banks to assess their suitability to hold US government funds for disbursement to local projects.

Tanzania: Gold Mining and Export

Developed strategy for financing gold mining and export, for client and own account.

Tanzania: Maritime Security

Developed strategy for maritime security for Government of Tanzania, in cooperation with US Embassy and its satellite imaging capabilities.

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 International 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.

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