There have been several initiatives encouraging private sector financing for megaprojects in the KSA, particularly with the establishment of a new regulatory structure to approve PSP projects—comprising dedicated government Supervisory Committees for each relevant targeted sector—and the issuance of a new Private Sector Participation Law, although this has not yet been issued.
We have worked at the forefront of the recent PSP drive, working alongside dedicated Projects Finance teams. For example, we were the lead firm on the USD $1.5 billion Madinah Airport financing, the largest PPP project to have reached financial close in the Middle East, and we are also currently advising on three airport PPP projects and three water PPP projects.
Additionally, our significant experience with PPP projects has helped us develop similar expertise with IPPs, including our recent projects for the Quarayyah IWPP and Al Jouf and Rafa Solar IPP.
