Commentary: Nerves hold as projects market takes the strain
The projects market speaks with one voice on deal flow in the coming year: it is going to be down. And while 2008 saw the banking community take the brunt of the downturn, the next sector to feel the pinch will be advisory. As the market continues to tighten we have seen a considerable drop in global project finance deal value with full-year 2008 figures falling 8.7% against the 2007 market high.Infrastructure Journal tracked 930 individual infrastructure transactions - combined global project finance and corporate finance deals - to reach financial close over the course of 2008, giving a total of $475bn (£329bn) worth of deals.
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