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Mourant Ozannes has provided advice on a £1.1 billion facility, part of the first infrastructure project to be announced under China's One Belt One Road infrastructure development fund.
The local law firm has advised Export-Import Bank of China, China Development Bank, Silk Road Fund and International Finance Corporation over the project.
The facility was provided to Karot Power Company (Private) Limited, a Pakistani incorporated subsidiary of China Three Gorges South Asia Investment Ltd, which is incorporated in the Cayman Islands. It will fund the construction of a 720-MW Karot hydropower project in Pakistan on the Jhelum River, east of Islamabad, and is expected to be commercially operational in 2021.
The project represents one of the three multistage hydropower projects in Pakistan being developed by China Three Gorges South Asia Investment Limited.
Partner, Simon Lawrenson, who led the Mourant Ozannes team, said: "Our dedicated offshore finance practice regularly advises on the most complex and high profile finance matters in the region. This transaction, which involved a range of cross border issues spanning China, Pakistan, Hong Kong and the Cayman Islands, is particularly noteworthy as part of China's 'One Belt, One Road' economic development initiative to increase global trade and regional connectivity."
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