BNP Paribas’ ECEP (Energy Commodities, Export Project) Project Finance, Paris & Bahrain, have been recognized as the Best Project Finance Bank of the Year, in the Middle East at the 2006 Euromoney Award for Excellence in Doha, Qatar recently.
The Chief Editor of Euromoney presented the award, in appreciation of its leading role in regional project finance. The gala award ceremony was organized by Euromoney, a specialized magazine for global capital markets, in association with the Qatar Financial Centre (QFC), in Doha.
Mr. Jean-Christophe Durand, BNP Paribas Bahrain, said: “The award from Euromoney once again reiterates our status as the pioneering financial institution for project finance regionally and globally. The award will further strengthen our already established position in this category especially in energy, commodities, and export projects (ECEP).”
The bank’s Energy Commodities Export Project division offers a comprehensive range of financing and coverage solutions to professionals operating in raw materials and energy sectors. Because of its worldwide network, ECEP provides a wide array of products from short-term trade finance to medium and long-term credits, from simple transactions to multi-sourcing & structured financial solutions.
In granting the award for project finance, Euromoney has recognized BNP Paribas’ capability to offer advisory role and lending capital market solutions and its impressive breadth of business across the globe; its strength in the Middle East, and its leading position in the renewable power sector worldwide.
BNP Paribas was involved in major transactions during the past year. This includes the advisory mandate they received for the US$1.2-billion Al Hidd IWPP in Bahrain, US$3.5-billion Qatalum project, US$8-billion Kayan project among others.
The bank was also part of other important major projects including the Rabigh Petrochemical, (Aramco-Sumitomo Chemical), Sohar Aluminium, (Alcan, OmanOil, Adwea, Yansab), (Sabic), Greater Equate, (Dow, PIC) and US$10.65-billion Qatargas 3(QP and Exxon) among others.
BNP Paribas also received the “Best Project Finance House” award from Euromoney last year, Project Finance Magazine’s 2005 Deals of the Year award, and Project Finance International’s 2005 Deals of the Year award besides others.