V&E Advises Arabian Chemical Terminals on Strategic Agreements with Abu Dhabi Ports
The Dubai and Riyadh offices of Vinson & Elkins (V&E) advised a Saudi Arabian based bulk chemical storage operator Arabian Chemical Terminals (ACT) on its entry into strategic agreements with Abu Dhabi Ports, the master developer of ports and industrial zones in the Emirate of Abu Dhabi, UAE. Pursuant to the terms of the agreements, ACT will develop and operate Abu Dhabi’s first greenfield commercial bulk liquid storage terminal at Khalifa Port, Abu Dhabi. The project will complete in two phases, with the first phase set to be commissioned in Q2 2022. Customers of the new terminal are set to benefit from its strategic location and a reduction in the costs of liquid and gas outsourcing.
The V&E team was led by partner Ahmed el-Gaili, with assistance from partner Looaye Al-Akkas and senior associate Ibrahim Siddiki. The team has extensive experience advising on complex project finance and development matters in the Middle East, including China Petrochemical Corporation (Sinopec) on project finance and sponsor financing documentation matters in connection with its joint venture with Saudi Aramco for development of the $10 billion Yanbu Refinery on the west coast of Saudi Arabia and The Republic of Iraq Ministry of Oil in connection with the $17 billion Basrah Gas Project to capture the large volume of natural gas currently being flared in oil fields in Iraq’s southern region and process it for both domestic power generation and LNG export.
V&E has represented clients in the Middle East for more than 30 years. Our internationally qualified lawyers, located in Dubai and Riyadh, bring extensive knowledge and a deep understanding of specific country-by-country considerations and regional variations, so that each client is able to navigate the complexities and customs of doing business in the region.
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