Allen & Overy Guides Lenders in Damietta Port Project Expansion
Allen & Overy (A&O) has provided legal counsel to a consortium of lenders, including International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), Asian Infrastructure Investment Bank (AIIB), Deutsche Investitions- Und Entwicklungsgesellschaft MBH (DEG), and Société de Promotion et de Participation Pour la Coopération Economique S.A. (PROPARCO), in relation to the construction, supply of equipment, financing, operation, and maintenance of the Damietta Port’s second container terminal in Egypt.
The sponsors, Eurogate, Contship Italia, Hapag Lloyd, MELC Group, and Ship & C.R.E.W, hold a 30-year concession for the terminal’s design, development, operation, and maintenance.
This strategic port, located near the Suez Canal, will triple its container capacity with the financing, fostering economic development and inclusive programs such as environmental and social management and a skills development initiative benefiting the Damietta region, with a special emphasis on women’s workforce participation.
The A&O team was led by partner and co-head of the global projects practice, Tim Scales, counsel Eleanor Milne and senior associate Urvi Gudka (all pictured above) supported by associates Andrew Wells, Sheza Tariq and Senem Cilingiroglu in London. The cross-jurisdictional team also included partner Wolfgang Melzer and senior associate Alan Markgraf in Frankfurt, partner Kirsten O’Connell and senior associate David Odejayi in Dubai, and counsel Luca Maffia in Milan, along with colleagues based in Belfast, Dubai, Frankfurt, Johannesburg, and Milan.
Egypt-based Sharkawy & Sarhan Law Firm (Sharkawy & Sarhan) acted as Egyptian counsel to EBRD, IFC – International Finance Corporation, Asian Infrastructure Investment Bank (AIIB), DEG and Proparco in providing the US$ 455 million financing package. For further information on the involved team members click here.
