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NBAD advises on finance for giant Asian project

02The National Bank of Abu Dhabi (NBAD) has been appointed as the financial adviser and lead arranger for fund raising by Cosmos, an investment, mining and holding company, headquartered in Kuala Lumpur and an affiliate of the Project Management & Development Company (PMD), based in the Al Jubail Industrial City in Saudi Arabia. The company will undertake the development of the proposed 25,000 tonne per annum Polysilicon Manufacturing Plant, strategically located at Samalaju Industrial Park, Bintulu, Sarawak, under the SCORE Initiative.

The polysilicon plant, one of the largest in Asia, will be one of the lowest cost polysilicon producers in the world. “NBAD has been appointed as financial adviser to the project based on its excellent track record as a leading project finance and advisory institution,” said a spokesman for Cosmos.

The signing ceremony was attended by Majed Al-Ahmadi, chairman of PMD and Cosmos; Anand R. Iyer, director of Cosmos Petroleum & Mining Sdn. Bhd.; Dr. S. Juvarajan, CEO of Cosmos Petroleum & Mining Sdn. Bhd.; Mark A. Yassin, senior general manager of global banking at NBAD; and Leong See Meng, CEO of National Bank of Abu Dhabi Malaysia Berhad.

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