Global law firm Ashurst has advised a group of financiers comprising of 12 commercial banks, Export Finance Australia, and the Northern Australian Infrastructure Facility, on the project financing of the Karratha Urea Project in Western Australia.
The Project will produce an estimated 2.3 million tonnes of granular urea fertiliser per annum and is expected to be Australia's largest urea plant. It is supported by a 20 year offtake agreement with Incitec Pivot.
Partner Chris Skordas said:
"We're proud to have advised on the Karratha Urea Project financing. This is a significant project that will support Australia's agricultural industry and economy for our future communities, and we're excited to watch how the Project will encourage further opportunities across the market. Congratulations to the Perdaman team and the financiers on this major milestone."
The Ashurst team was led by partner Chris Skordas, who was assisted by: partners David Jardine and Caroline Lindsey, Counsel Laura van den Berg, Amanda Tsangalis and Douglas Fung, senior associate Kate Latta and associates Victoria Mellor, Andrew Bennett, Fiffy Che, and Jonathan Chew (Projects & Energy Transition); consultant Richard Brooks (Real Estate); senior associate Jacinta Pitos and associate Laura Mwiragua (Planning, Access and Environment); and partners Ian Kellock and Costa Koutsis, Counsel Bronwyn Kirkwood and Hayley Young, and associates Laura Scro and Madeleine Bosler (Tax).
