The Tibar Bay port project, which Gide advised on, wins the Asia Pacific PPP Deal of the Year 2018!
12 April 2019
Asia | Timor-Leste | IJGlobal Awards.2018 - Asia Pacific
We are delighted that the $490 million Tibar Bay port PPP in Timor-Leste, which Gide advised on, has been awarded the Asia Pacific PPP Deal of the Year 2018 at the IJGlobal Awards 2018.
Tibar Bay Port is Timor-Leste’s first PPP, with private financing five times larger than any previous private investment outside the oil & gas sector. The greenfield port cargo terminal at Tibar Bay will require an initial investment of $280 million and a further $210 million in expansion costs. Bolloré will provide $360 million of this cost, with remainder to be financed by the government of Timor-Leste.
The new port will have the capacity to handle 350,000 twenty-foot equivalent units per year and will replace the congested and outdated port facilities at the capital city Dili. The concession period to operate the port is 30 years. The government of Timor-Leste appointed the International Finance Corporation (IFC) as transaction adviser on the deal in October 2012.
Gide's team advising IFC and the Government of Timor-Leste was led by partner John D. Crothers.