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MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Explore global projects that support economic growth, reduce poverty and improves people’s lives.

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Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Explore different types of political risk insurance guarantees provided to investors and lenders.

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Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Saudi Arabia

Heckett Saudi Arabia Limited

$4.47 million
Manufacturing
Project Brief
Not Active
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MIGA insured Harsco Corporation and its wholly owned subsidiary, Harsco Bermuda Limited, for their investments in the construction and operation of a steel slag processing plant in Al-Jubail. The equity and loan investments of the Bermuda subsidiary are covered for $2.5 million and the parent company's loan guaranty for $2.0 million. The MIGA guarantees cover the risk of war and civil disturbance.

The project enterprise, Heckett Saudi Arabia Limited, will recover metal from slag produced by the Saudi Iron and Steel Company (Hadeed) at a plant near Al Khubar, in eastern Saudi Arabia. A portion of the reclaimed metal will substitute costlier imported scrap metal used by Hadeed, and other products such as steel slag aggregates will be sold for local construction projects. The project will purchase most construction supplies and spare parts locally.

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