Partners Assume Risks, Lower Finance Costs Of Delayed Coker-Cogeneration Project In Chile

Enrique Davila Alveal Petrox SA Refineria de Petroleo Concepcion, Chile Martin J. Karpenski Foster Wheeler Power Systems Inc. Clinton, N.J. When partners in major debt-financed projects assume essentially all the risk elements themselves-thereby relieving lenders of these risks-and the financed project represents a strategically valuable asset, overall project costs can be sharply reduced. This was demonstrated earlier this year when Foster Wheeler Power Systems Inc. and its partners-Petrox SA Refineria de Petroleo and Empresa Nacional de Petroleo (ENAP), the Chilean national oil company-closed on the financing of Petropower Energia Limitada, a $237 million financed c...

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