Built to inform

Sign up for the daily newsletters

No, Thank you

Dentons advisor for Mashreq on Oman Liwa project

The Liwa project represents the first major project that Mashreq has supported for Tecnimont SpA in Oman.

This image is used for representational purpose only.
This image is used for representational purpose only.

Dentons announced that it has advised Mashreq Bank on the coordination of $88m club contracting finance facilities for the engineering, procurement and construction (EPC) of a petrochemical production facility located in Fahud and Sohar in Liwa, Oman.

The facilities were used to finance the bonding of Tecnimont SpA for the construction work.

Mashreq acted as the sole book runner, mandated lead arranger, and co-ordinator for the deal. The Liwa project represents the first major project that Mashreq has supported for Tecnimont SpA in Oman.

Dentons advised the banks on the structuring of the financing and supporting security requirements, covering the specific bonding requirements relating to the Liwa project construction. The contract counterparty was Orpic Plastics.

Dentons Middle East senior partner, Neil Cuthbert, commented: "We are delighted to have worked with Mashreq Bank on another ground-breaking contractor financing involving the Maire Tecnimont Group."

The Dentons team was led by partner Neil Cuthbert and associate Annabel Levick, in Dubai, with support from partner Sadaf Buchanan and senior associate Justine Harding in Muscat.
 

Most popular

Awards

CW Oman Awards 2019: Countdown begins for gala event in Muscat
The winners and highly commended entries of the eighth CW Oman Awards will be named

Conferences

Leaders Kuwait 2018: New Kuwait 2035 needs smart city-led contracts
Localisation and contract modernisation are essential for Kuwait's diversification strategy
Construction Week's Leaders Kuwait 2018 summit opens
Speakers from Kuwait's Supreme Council for Planning and Development and CSCEC ME are at today's

Latest Issue

Construction Week - Issue 734
Mar 21, 2019