Caribbean Special Report: A Matter of Scale
Sep 1, 2008
As financing for energy flows, projects in infrastructure in the Caribbean lack resources, partly due to small size. However, some jumbo deals are getting through.
by Julio Urdaneta
Like much of LatAm, the Caribbean is in need of comprehensive financing for basic infrastructure to make it more competitive. It is not difficult to see a strong opportunity for investing and financing infrastructure development in the Caribbean, says Peter Darrow, partner at Mayer Brown.Even a country like Trinidad and Tobago, presently swimming in oil revenue, has severe infrastructure shortcomings that threaten its future. But the island nation has been successful at energy project financing. Trinidad has been a big success story in project finance for other sectors, such as methane, oil and gas, says Darrow. The natural-resources rich island has seen a significant flow of important project finance investments in the last five years. A $1.55 billion steel plant project financing via Calyon is just one example of this, says Timothy Hamel-Smith, an attorney at M. Hamel-Smith in Port of Spain that has advised several project...
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