Baker & McKenzie has bagged a lead role on a market-shaping deal in the Saudi mineral and mining industry.
With the Saudi market entering a boom phase, the firm, led by partner Mike Webster, is advising government-owned Saudi Arabian Mining Co on its $1.5bn (£740m) development of three mining plants. The project is expected to boost significantly the jurisdiction’s mining industry.
Webster commented: “This deal is significant in the Saudi market because it highlights the government’s drive to develop a successful minerals and mining infrastructure in the kingdom. Having pitched for the deal three years ago, we’ve continued to do a lot of work on many aspects of the project.”
The firm, which has had an office in Saudi since the 1970s, has advised on the engineering, procurement and construction contracts for the plant’s development.
Webster added: “We’ve had a strong presence in Saudi for a long time. The London team’s been working with the Saudi team on projects of this kind for roughly 15 years. Saudi’s a very exciting Middle Eastern jurisdiction and I think we’ll see even more firms taking an interest.”
Clifford Chance in Dubai has been instructed to advise the lenders on the financing of the project.