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Finance export expansion for Australia

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Project and export finance capability is being expanded in Australia for capital expenditure. HSBC bank have announced Alan Park as the head of the global initiative Project Finance Metals and Mining for Asia Pacific. The initiative will develop mining-focused project finance business globally and for the Asia Pacific region. Chris Russell, head of global banking at HSBC Bank Australia, said Australia is a priority market because of its growing trade and investment flows with emerging markets. "Australia is the second largest project finance market in the Asia Pacific and we see high potential for market growth," Russell said. "There are currently 102 mining projects at an advanced stage of development in Australia, with a record capital expenditure of over $230 billion." The initiative aims to connect customers with trade and investment flows between the 87 markets globally operated by HSBC. James Cameron, head of project finance Asia Pacific for HSBC, said the initiative would expand capability offshore and in Australia. "We’re supporting Australia’s largest names in infrastructure and mining as they expand their operations offshore as well as our regional client base as they seek opportunities to invest in Australia," Cameron said.

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