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Wednesday, November 25 - 2009

Clifford Chance advises Abu Dhabi Commercial Bank on the Abu Dhabi Sewage Project

  • United Arab Emirates: Saturday, July 05 - 2008 at 11:34
  • PRESS RELEASE

The Dubai office of Clifford Chance LLP has advised Abu Dhabi Commercial Bank as lender on the $400m Abu Dhabi Sewage Project, which will have two greenfield sewerage treatment facilities at Al Saad and Al Wathba, Abu Dhabi.

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The project is one of the first wastewater treatment BOOT projects in the Middle East and is the first UAE wastewater deal to be carried out on a project finance basis.

The project was procured by ADSSC (Abu Dhabi Sewerage Services Company), a wholly owned subsidiary of ADWEA (Abu Dhabi Water and Electricity Authority).

Biwater International Limited (a subsidiary of Biwater plc) and Emirates Utilities Companies Holdings LLC (a subsidiary of Mohammed Abdulmohsin - Al-Kharafi & Sons General Trading Contracting and Industrial Structures Company, WLL) are the sponsors. Milbanks and Emirates International Law Firm acted for the sponsors. Dewey & LeBoeuf acted for ADSSC and ADWEA.

Peter Avery, Banking & Finance partner commented:

"As the economies and population of the UAE and the Middle East generally increases to grow, these types of infrastructure projects are becoming increasingly important. We were delighted to be involved in what we see as a ground breaking project for the region."


The Clifford Chance team was led by Peter Avery in Dubai and comprised Ali Wills, Shani Long and Helen Welsh. Paget Dare-Bryan and Diane Browne helped on the swaps from Hong Kong.
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Notes and media contacts

Clifford Chance is one of the world's leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise. The firm has unrivalled scale and depth of legal resources across the key markets of the Middle East, Americas, Asia and Europe and focuses on the core areas of commercial activity: capital markets; corporate and M&A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 28 offices in 21 countries and 3,800 legal advisers.

Clifford Chance achieved the highest number of top tier rankings of any firm in the Chambers Global 2008 Directory, cited in 20 international tables. This independent analysis focuses on firms' legal ability, professional conduct, client service, and commercial awareness, and these rankings provide outstanding recognition for the firm's breadth of expertise and consistency of quality across global markets.

The firm has the world's largest international finance practice with approximately 719 partners and lawyers located in major financial and commercial centres worldwide. The practice provides advice across the full spectrum of financial products including bank lending, acquisition finance, asset finance, derivatives, project finance, restructuring and insolvency and structured finance.

Clifford Chance is the first firm to bring together lawyers in the Middle East, Europe, the Americas and Asia to advise on national and international regulatory issues and the relationship between regulatory systems. It acts for all the world's leading investment and commercial banks across all major jurisdictions as well as many corporate businesses. The practice also advises regulatory authorities, supranational bodies, governments and government agencies.

Clifford Chance's 75-lawyer Dubai office is fully integrated into the firm's worldwide network of offices and has a market leading finance practice in the Middle East. The firm celebrated its 30th anniversary in the United Arab Emirates in 2005, having opened its first office in the region in Sharjah in 1975.

For further information, please contact:
Peter Avery
Partner
Tel: +971 4 362 0682

Melanie Carruthers
Business Development Manager
Tel: +971 4 362 0623

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