Global law firm Norton Rose Fulbright has advised DBS Bank Ltd. on the financing for the development, design, engineering, management and operation of the Khalifa Port Container Terminal Phase 2 in United Arab Emirates. A concession for the expansion was granted by the Abu Dhabi Ports Company PJSC (AD Ports) to a special purpose vehicle established jointly by AD Ports and COSCO SHIPPING Ports Limited, a subsidiary of China COSCO, in September 2016. Following the expansion, the terminal is expected to have a nominal annual capacity of 2,500,000 TEUs.
DBS Bank Ltd. provided senior committed term financing of US$260,000,000.
Nick Merritt, global head of infrastructure, mining and commodities commented:
“We are delighted to have advised DBS in the financing of this major project. It is significant for expanding the trade links between the UAE and China.”
The Norton Rose Fulbright team was led by Nick Merritt with assistance from Singapore based partner Colin Rice, of counsel Selene Tan and senior associates Aditya Rebbapragada and Aditi Aparajita along with Dubai team, partner Paul Mansouri, of counsel Louisa Lynch and associates Seya Rahnema and Noren Bhulji.
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