Deutsche Bahn holds a minority stake in a 51-49 joint venture with Qatari sovereign wealth fund subsidiary Qatari Diar to develop 651km of track across the emirate. The scheme includes 98 new stations, a 300km metro system in the capital Doha, a high-speed connection to the airport and a freight network.
Dentons advised on the joint venture agreement and is providing ongoing assistance on international best practice, Qatari law, corporate structuring and finance models, which could include an Export Credit Agency-funded element or PPP arrangements.
Lead partner and Doha managing partner Leigh Hall said: “This is bigger than recent regional transactions and will take 15 years to complete. There’s a lot of weight behind it because it fits in with Qatar’s bid for the 2022 football World Cup.”
The project is of regional significance given the reliance on road transport in the Gulf. The Qatari plans include a link to Bahrain and interconnection with the rest of the region.
The Dentons team included Amman managing partner Safwan Moubaydeen, construction senior associate Julie Tuck and corporate associate Lynsey Edgar.
Qatari Diar is being advised in-house by legal director Ahmed Elbagir with external assistance from Patton Boggs Doha managing partner Rob Hager.