Senior Director, Head of Project Finance
Al Rajhi Bank
Total years of experience :34 years, 9 Months
As Senior Director, Head - Project Finance led the origination, structuring, execution and syndication of Islamic Project Finance transactions across transport, power & water, telecom, oil & gas, metals & mining sectors. Currently managing a portfolio of SAR 18 billion (USD 4.8 billion) across the above sectors.
Key Accomplishments
• Developed Strategic Business Plan to increase fee and yield income and have been successful for the past 3 years, surpassing the budget
• Developed Shari’a compliant innovative financing solutions for several project finance transactions
• Successfully presented and obtained credit / board approvals for new transactions / annual reviews
• Regular monitoring of portfolio, identifying EWS and taking proactive actions leading to low NPA/ provisions
• Achieved leadership position for the bank as structuring and documentation bank in Islamic structuring of syndicated transaction involving Saudi banks
Key Transactions
• Supported the bid for a Saudi led consortium for the development of the regional airports at Qassim and Al Hail on PPP basis
• SAR 7.9 billion Refinancing transaction for Mobily
• SAR 230 million Red Sea Gateway Terminal (RSGT) Expansion project at Jeddah Islamic Port
• US$ 2 billion Rabigh Electricity Company Refinancing transaction
• US$ 4 billion Ma'aden Phosphate Company Refinancing transaction
• US$ 8 billion Petro Rabigh 2 project sponsored by Saudi Aramco & Sumitomo Chemicals
• US$ 2.5 billion Fadhili Combined Heat and Power Project sponsored by Mitsubishi Corp. and Saudi Aramco
• US$ 800 million Co-generation Projects sponsored by a consortium led by Marubeni & Aramco
• US$ 2 billion Rabigh 2 IPP sponsored by a consortium comprising ACWA Power, and Saudi Electricity Co.
• US$ 6.6 billion Wa'ad Al Shamal Phosphate Project in Saudi Arabia.
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As SVP, Head of Project & Infrastructure Finance, led the origination, structuring, execution and syndication of Project, Structured / Infrastructure Finance and Sukuk transactions and providing financial advisory services to clients across power & water, oil & gas, transport, metals & mining sectors.
Key Accomplishments
• Successfully set up the Islamic financial advisory services in the bank
• Brought several new clients and partners (International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA) of the World Bank) to the bank
Key Transactions
• Islamic Financial Advisor for the USD 1.1 billion Expansion Project for Emirates Steel Industries (ESI) in Abu Dhabi, UAE for the Islamic Facility in the multi sourced financing of the project.
• Islamic Structuring Advisor for the USD 5.50 billion Expansion Project for an Emirates Aluminium (EMAL) in Abu Dhabi, UAE for structuring an Islamic tranche in the multi-sourced project financing.
• Structuring and arrangement for the following transactions:
o US$ 500 million Aircraft Financing Facility (Ijara) for Etihad Airways.
o US$ 140 million Oil storage & handling facility (Tank Farm) at Fujairah in UAE.
As Sr. Executive Director - Investments, led the origination, structuring and execution of Energy Investment and project finance transactions and led the due diligence and negotiations of transactions. As Head of Islamic Finance, developed and managed Energy related Sukuk portfolio.
Served on bank's Management Committees and also represented FEB on as Board of Director of portfolio companies.
Key Accomplishments
• Developed alternate Shari’ah compliant Islamic structures for equity investments
• Developed & Managed Sukuk investment portfolio (Hold-to-maturity investment) of USD 200 mm
Key Transactions
• Principal Investment of 9% in the shareholding of Al Dur Independent Water and Power Project in Bahrain.
• Principal Investment of 40% in the shareholding of Arabian Drilling and Workover Company (ADWOC), Libya.
• Principal Investment of 10% in the shareholding of an Independent Water and Power Project in Oman
• US$ 150 million Aircraft Acquisition Financing (Ijara) Facility for Gulf Air, Bahrain
As VP, Head of Project Finance, set-up the PF business in the bank and led the origination, structuring, execution and syndication of project finance transactions.
Developed new Islamic Project Financing structures / products and documentation.
Key Transactions
• US$ 5.0 billion Ma’aden Phosphate Company sponsored by Ma’aden & SABIC.
• US$ 10.0 billion Saudi Kayan Petrochemical Company, sponsored by SABIC.
• US$ 2.0 billion Murabaha Facility for Zain Saudi Arabia (3rd mobile operator).
• US$ 2.5 billion of the Airtime Facility for Mobily’s Medium Term Financing.
• Underwriting of Islamic PF facilities for Marafiq IWPP at Yanbu, Shuqaiq IWPP at Shuqaiq and the first IWPP at Shoaibah, and Shoaibah Expansion Project, all in Saudi Arabia.
• US$ 2.5 billion of the Murabaha Facility for Mobily in Saudi Arabia.
• Financial Advisory and underwriting of SAR 1.70 billion Islamic Facilities for Red Sea Gateway Terminal Company for setting up the 3rd Container Terminal at Jeddah Islamic
As Transportation Sector Specialist led the project finance transactions in the Transportation sector as well as in the Advisory Services to Government and its departments in structuring infrastructure projects for Private Sector Participation (PSP) / Public Private Partnerships (PPP) / Private Finance Initiative (PFI).
Key Transactions
• Over 20 Highway development projects on BOT (Tolls) and BOT (Annuity) basis in India.
• Expansion of Kakinada Port project in Andhra Pradesh State, India, on BOT basis.
• Green field modern mechanized port at Dhamra Port in the State of Orissa, India.
• Key Team Member advising the Prime Minister's Task Force on Infrastructure, India
o Developed Annuity Concept of BOT projects for Highway development
o Developed Innovative financing for National Highway Development Project covering 2, 000 Kms
• Advisor to National Highway Authority of India and several state level highway agencies on PSP / PPP in highways
• Financial Advisor to Delhi Transport Corporation for introduction of High Capacity Bus Systems (Bus Rapid Transit)
• Advisor to Rail Development Corporation of India (RVNL) to structure identified rail corridors for privatization
As Sr. Credit Analyst conducted review and analysis of corporate credit ratings.
As Manager - Infrastructure Advisory, advised government entities in preparation of projects for PSP / PPP
* Undertook planning and designing of highways and traffic & transportation facilities
* Conducted Techno-economic-financial feasibility studies and detailed engineering designs for highway and transportation projects in India.
* Developed Transportation Master Plan for several cities in India - Bangalore, Mysore, Chennai, etc.
* Conducted Technical Due Diligence on behalf of financial institutions for financing projects in the transportation sector.
Graduated with CGPA of over 8 out of 10.
Graduated in First Class with Distinction.
