NORTON ROSE ADVISES ON MADINAH AIRPORT

International legal practice, Norton Rose Group, has advised the sponsors TAV Havalimanlari Holding A.S, Saudi Oger Ltd and Al Rajhi Holdings on the financing and construction of the US$1.2 billion expansion of Madinah airport in Saudi Arabia.

 

The firm advised on the project documents as well as all aspects of the Shariah-compliant project financing, an equity bridge, working capital and stand-by facilities for the rehabilitation, expansion and operation of the airport. It is claimed that the airport will have the capacity to accommodate eight million passengers in the first phase, expected to be ready by 2015.

 

The team was led by partners Martin Preston and Mohammed Paracha in Dubai, Chris Brown in London and Alan Bainbridge along with Counsel Paul Mansouri, both based in Abu Dhabi.