Lawfuel.com – Austrlian & New Zealand Law News – Allens Arthur Robinson (AAR) was again entrusted with a greater dollar amount of project finance deals in 2006 than any other Australian firm, according to the Dealogic Global Project Finance Review.
It is the third consecutive time that AAR has led all other Australian firms in global project finance, underlining the breadth of experience AAR has developed advising in different sectors and market conditions.
AAR advised on global project finance deals worth US$7.5 billion (AU$9.6 billion), making it the seventh-largest adviser of deals among all law firms internationally and the only Australian firm to have appeared in the top 10 global table for the past three years.
Phillip Cornwell, AAR Partner and head of the Project Finance practice group, said: ‘2006 was an excellent year for our team to build on its broad experience base. We have seen a continuing commodities boom and that has helped stimulate a record amount of project finance activity.
‘Buoyant global share markets have also made it easier for small to medium sized resources and energy players to source equity and therefore successfully launch project finance deals.
‘For our team, advising Rio Tinto on the Hope Downs Iron Ore project was a highlight of the year.’
Looking at 2007, Phillip said the portents were for another big year.
‘We have seen some softening in the oil price but we are still likely to be busy in oil and gas, with a lot of work already well under way. Growing government concern with climate change will give further impetus to renewable energy projects and also investment in water infrastructure.
‘We are also likely to get involved in a range of resource-related projects in China and South-East Asia. Allens has just added two offices in Vietnam to our Asia-Pacific network and we are expecting some exciting deals in Vietnam, especially in the power sector.’