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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.
 

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Construction Week - Issue 742
May 23, 2019