K&S turn advisor for $3bn Qatar water project
Doha, March 29, 2008
King & Spalding (K&S) has advised Suez Energy and Mitsui & Company on a joint venture agreement with Qatar Petroleum and Qatar Electricity and Water Company.
The resulting business entity, Ras Girtas Power Company, will develop the Ras Laffan C Power and Water Project, which will be constructed in Ras Laffan Industrial City, Qatar.
Ras Laffan should start production by April 2011, preceded by an early water and power phase by May 2010. Total financing for the project is expected to exceed $3 billion and to be the largest power and water financing in the world.
SEI and Mitsui have a 40 percent stake in the project, with the remainder split between state-owned Qatar Petroleum and Qatar Electricity and Water Corp.
Upon completion, the Ras Laffan C Power and Water Project will be the second largest power plant in the region, with a capacity of 2730 megawatts and 63 million imperial gallons per day (MIGD) of potable water. The facility is expected to generate revenues of $22.7 billion over 27 years.
A cross-office team of King & Spalding lawyers represented SEI and Mitsui on this project, led by Houston partner John Barquin, London partner Scott Samuel and Angus McFadden, of counsel in the firm's Dubai office.
Dubai associates Farida Midani, Feras Gadamsi and Yasmine Kurukgy also assisted on the matter. – TradeArabia News Service