Dentons and Eversheds Sutherland are advising on large infrastructure projects in the Gulf, highlighting a growing number of firms capitalising on the region’s economic diversification efforts.
Dentons is advising on the $3 billion Hafeet Rail project, a joint venture between Etihad Rail and Oman Rail, with support from Mubadala Investment Company, which secured $1.5 billion in project finance debt, the firm said.
The project is the GCC’s first cross-border railway, stretching 238 km and featuring 60 bridges, some as tall as 34 meters, along with tunnels of up to 2.5 km long. It will link five major ports and several industrial and free zones in the UAE and Oman. Once operational, it will cut travel time between Abu Dhabi and Sohar to 100 minutes with passenger trains carrying up to 400 people at up to 200 km per hour and freight trains running up to 120 km per hour.
Dentons is advising on the project financing and concession agreement for construction and services in the UAE section. Moreover, the firm’s lawyers guided a track access agreement, allowing UAE companies involved in the project to use parts of the existing rail network.
Dentons team was led by partner Stephen Knight, with support from partners Kanishka Singh, all based in Abu Dhabi, and Sadaf Buchanan, Jamie Gibson, Yasser Taqi, and Jon Nash in Muscat.
Knight said the project adds to Dentons’ list of regional firsts, such as the construction of Abu Dhabi’s Etihad Towers. Last month, Dentons advised France’s EDF Renewables and Korea Western Power Company with the financial close of the Al Ajban Solar Photovoltaic Independent Power Project in Abu Dhabi.
A few kilometres away, AlDhabaan & Partners in association with Eversheds Sutherland in Saudi Arabia, advised Saudi Power Procurement Company, a government-owned entity responsible for sourcing electricity, on the commercial close of three major solar PV plants in Haden, Muwayh, and Al Khushaybi. The projects are valued at $3.2 billion.
The firm handled all legal aspects of the procurement process including drafting and advising on internal compliance documentation, and reviewing responses to the Statement of Qualifications.
The Eversheds team was led by Ashley Halewood, Dubai-based partner and head of projects for the Middle East, with support from partners Abdulatif AlHerish and Mohammed AlAhmad in Riyadh. Halewood said the projects align with Saudi Arabia’s goal of sourcing 50% of its electricity from renewable energy by 2030 under the supervision of the Ministry of Energy.