White & Case Advises DP World on Jeddah Port Financing

White & Case, the global law firm, has acted as legal counsel for DP World Limited and its subsidiary, DP World Middle East Company Limited, on a SAR1.28 billion project financing initiative. This financing aims to support the development and enhancement of the South Container Terminal at Jeddah Islamic Port in Saudi Arabia. 

DP World, recognized as a global leader in supply chain solutions, secured its first terminal concession beyond the UAE for operating the South Container Terminal. This terminal holds strategic importance in the bustling east-west trade routes through the Red Sea, serving a diverse domestic cargo base. Jeddah Islamic Port stands as Saudi Arabia’s primary import destination, handling a significant 59 percent of the nation’s sea imports. 

The project’s development plan includes dredging berth pockets, upgrading quay walls to accommodate vessels with up to an 18-meter draft, constructing a container yard, and establishing an engineering workshop for ongoing maintenance of terminal equipment. 

The financing for this ambitious project is facilitated through the collaboration of the Saudi British Bank (now Saudi Awwal Bank) and Gulf International Bank. 

The White & Case team in London and the Middle East that advised on the transaction was led by partners Carina Radford (pictured right) and Debashis Dey (pictured left)and included partners Waad Alkurini, Alec Johnson, Claire Matheson–Kirton and Sherief Rashed, and associates Shamim Khan, Ben Rodin, Nisha Raman, Maaz Shahzad and Mikaela Nikolausson.