Ports Development Company advised by DLA Piper

DLA Piper has advised Ports Development Company (PDC), a joint venture between Emaar the Economic City and Huta Marine Works Ltd (a subsidiary of Saudi Binladin Group) on the SAR2.7 billion project financing of King Abdullah Port in Saudi Arabia. The project financing is one of the largest transport project financings to have been undertaken in the region to date.

PDC is the owner and developer of King Abdullah Port, the first privately-owned and funded port facility of Saudi Arabia and the Middle East region. The financing, provided by SABB and Arab National Bank, is to enable the next phase of the expansion and development of the port’s southern basin, which includes an additional container terminal, a ro-ro terminal and a bulk cargo terminal, increasing the port’s total capacity to 6 million TEU’s annually. The port’s logistical support area will also be developed in line with the Kingdom of Saudi Arabia’s Vision 2030, which seeks to encourage investment that further promotes Saudi Arabia as a global logistics hub and gateway to three continents.

The DLA Piper team was led by Debbie Barbour, and supported by legal consultant Mushfique Khan. Support on the financing and corporate aspects of the transaction was also provided by partners, Dr. Eyad Reda and Paul Latto and consultant, Phil Loynes, in DLA Piper’s Riyadh office, with advice on construction contracts provided by DLA Piper’s Head of Projects & Finance Trevor Butcher and legal consultant Adam Haque.