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Trowers & Hamlins act as lead legal advisers for Shuqaiq IWWP on sponsorship project

Trowers & Hamlins act as lead legal advisers for Shuqaiq IWWP on sponsorship project

Trowers & Hamlins acted as lead legal advisers to the sponsors for Saudi Arabia’s second privately funded water and power project, the US$2 billion Shuqaiq IWPP

Trowers & Hamlins acted as lead legal advisers to the sponsors for Saudi Arabia’s second privately funded water and power project, the US$2 billion Shuqaiq IWPP. The sponsor consortium was led by ACWA Power Projects (Saudi Arabia), Mitsubishi Corporation (Japan) and Gulf Investment Corporation (co-owned by the six GCC nations).

The project financing for the Shuqaiq IWPP was in excess of US$1.9 billion and included a US$140 million Islamic tranche provided by Al Rajhi Banking and Investment Corporation and Riyad Bank. Financial close was achieved in March 2007.