20 August 2020
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The 6 facts that you probably have forgotten about the 1st PPP structured under the new regulatory framework and the 1st sizeable privately financed project outside the oil and gas sector.
BAKAD is a 66 km ring road around Almaty and is a key link in the “Western China – Western Europe” transcontinental highway. BAKAD is the first largest PPP project in both Kazakhstan and Central Asia that will have a major input on reducing traffic jams as well as increase the transit flow to lessen the local air pollution in Almaty. The global infrastructure road project structured with quality international advisors opens a gateway for new PPP scheme investments.
The high-level involvement of international banks financing the project at 585million USD altogether from EBRD, IsDB, Bank of China, and PGGM.
Unicase is proud to announce for being one of the local legal advisors to the public side inclusive of IFC, EBRD, and the Government of Kazakhstan assisting with the BAKAD project implementation. Specifically, the Unicase team has worked on the feasibility study sections, tender documentation, the draft of the concession contract, and assisted during the selection and process of the concessionaire. The team also successfully initiated a number of legislative changes to ensure bankability of the project such as changes related to the direct agreements, early termination payments, foreign exchange risk, execution of a concession agreement by an SPV, and foreign arbitration.
For further information, please contact:
Saniya Perzadayeva, Managing Partner, Unicase Law Firm
saniya.p@unicaselaw.com
