BNP Paribas is the lead arranger.
A consortium of Korea Electric Power Corporation (Kepco) and Saudi Arabia’s Xenel Industries is the low bidder for the estimated $500m project.
Chadbourne & Parke was originally the legal adviser to a consortium of Dubai-based AES Oasis, Mitsui & Company and Tohoku Electric Power, both of Japan. The group was the second lowest bidder after the Kepco consortium.
Allen & Overy is the legal adviser to the Kepco-Xenel group. South Korea’s Lotte Engineering & Construction is the engineering, procurement and construction contractor.
Bids were also submitted by a team of the UK’s International Power, Saudi Oger and South Korea’s Hanwha Engineering & Construction; and by Turkey’s Gama Energy with Japan’s Mitsubishi Corporation and the local Energy Arabia (MEED 8:5:08).