DOHA, QATAR -- (MARKET WIRE) -- 03/27/08 -- King & Spalding, a leading international lawfirm, has advised Suez Energy International ("SEI," a division of Suez, SA)and Mitsui & Co., Ltd. on a joint venture agreement with Qatar Petroleumand Qatar Electricity and Water Co. The resulting business entity, RasGirtas Power Company, will develop the Ras Laffan C Power and WaterProject, which will be constructed in Ras Laffan Industrial City, Qatar.Ras Laffan should start production by April 2011, preceded by an earlywater and power phase by May 2010. Total financing for the project isexpected to exceed $3 billion and to be the largest power and waterfinancing in the world.
SEI and Mitsui have a 40 percent stake in the project, with the remaindersplit between state-owned Qatar Petroleum and Qatar Electricity and WaterCorp. Upon completion, the Ras Laffan C Power and Water Project will be thesecond largest power plant in the region, with a capacity of 2730 megawattsand 63 million imperial gallons per day (MIGD) of potable water. Thefacility is expected to generate revenues of $22.7 billion over 27 years.
A cross-office team of King & Spalding lawyers represented SEI and Mitsuion this project, led by Houston partner John Barquin, London partner ScottSamuel and Angus McFadden, of counsel in the firm's Dubai office. Dubaiassociates Farida Midani, Feras Gadamsi and Yasmine Kurukgy also assistedon the matter.
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King & Spalding is an international law firm with more than 800 lawyers inAtlanta, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh(affiliated office), San Francisco, Silicon Valley and Washington, D.C. Thefirm represents half of the Fortune 100 and in a Corporate Counsel surveyin September 2007 was among the top firms representing Fortune 250companies. For additional information, visit www.kslaw.com.
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