Latham and The Law Office of Salman M. Al-Sudairi Advise Mawani on Landmark SAR 9 Billion (US$ 2.4 Billion) Investment in the Saudi Port Sector

Transactions represent a key milestone in the delivery of the government’s privatization objectives for the transportation sector.

December 23, 2019

Latham & Watkins and the Law Office of Salman M. Al-Sudairi have advised Mawani - the Saudi Port Authority - on two 30-year build-operate-transfer (BOT) concessions with global port operator DP World and regional port operator Red Sea Gateway Terminal Company for the development and operation of container terminals at Jeddah Islamic Port. 

Combined, the operators will invest approximately SAR9 billion (US$2.4 billion) and increase the capacity of the container terminals by 60% to approximately 12 million TEUs.

The deals represent a key milestone in the delivery of the government’s privatization objectives for the transportation sector and the government’s objective to position the Kingdom as a global logistics hub. Financial close is targeted for Q1 2020. 

Latham advised Mawani in the transaction with an infrastructure team led by Dubai counsel Derek McKinley, with Dubai partner Villiers Terblanche, Dubai associates Marc Makary, Muhannad Al-Najjabb, and Mohsin Shafi, and New York associate Ramin Montazeri.

The Law Office of Salman M. Al-Sudairi advised Mawani on Saudi law matters.

 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.