DFDL Bangladesh is acting as local counsel to the International Finance Corporation (IFC) and other lenders, KFW, FMO, JICA and CDC, in relation to their investment and financing of the $180m Moheshkhali floating storage regasification unit (FSRU) and LNG supply project. DFDL Bangladesh Partner, Shahwar Nizam heads up the team, which is advising on all project documents from a Bangladesh law perspective and local regulatory framework related issues, in conjunction with other top international law firms.
Co-developed by the IFC and Excelerate Energy, the project will be the first LNG import terminal to operate in Bangladesh. The infrastructure is critical for the country to access global natural gas markets in a context of declining domestic reserves, supporting up to 3,000 MW of power generation capacity.
The IFC arranged a debt finance package of $125.7 million as part of the deal, procured from a consortium of international development institutions. Construction is expected to commence in mid-2018.
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