Meridian Energy Group Inc. has announced that it and CIBC World Markets Corp. (CIBC) have entered into an engagement agreement under which CIBC will act as Meridian’s financial advisor.
CIBC will assist in structuring and arranging for both debt and equity transactions for the full project financing for Meridian’s Davis Refinery project in Belfield, North Dakota, US.
Meridian has raised a significant portion of project financing to this point and will continue to raise development financing for completion of pre-EPC work. Meridian has initiated site preparation and grading at the Davis site, and is proceeding with final design and equipment fabrication and procurement with full construction activities and foundation work resuming in spring 2019. Full commercial operation of the Davis Refinery is expected in late 2020 or early 2021.