dayofdubai.com | ASAR - Al Ruwayeh & Partners Participates At The MEED Kuwait Projects Conference 28 November 2016

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ASAR - Al Ruwayeh & Partners Participates At The MEED Kuwait Projects Conference 28 November 2016

Al Ruwayeh & Partners (ASAR), Kuwaits leading and most prominent corporate law firm, and one of the regions top tier firms participated in the recently concluded 12th edition of the MEED Kuwait Projects 2016 conference which was promoting international participation in Kuwaits USD 250+ billion potential project market. The conference, which took place on the 28th of November 2016 at the Regency Hotel in Kuwait, provided an update on the status of the mega projects in the pipeline in Kuwait in the various sectors, including Kuwait's oil, gas, electricity, water, transport, housing and infrastructure sectors, and focused on proposing solutions to challenges faced by said projects. The conference also addressed the increased confidence in Kuwaits private partnership (PPP) projects which is confirmed by the progress made in the projects already underway and the new private PPP projects under tender which have attracted numerous international and local participants.

ASARs involvement in the ground breaking Az Zour North Phase 1 independent water and power producer (IWPP) project and its current involvement in numerous other PPP projects (including the Az Zour North Phase 2 IWPP, the Al Khairan Phase 1 IWPP, the Al Abdaliya Integrated Solar Combined Cycle Independent power project, the Umm Al Hayman Wastewater Project, the Kabd Municipal Solid Waste Project, etc) provided the back drop of the firms contribution to the conference with respect to the lessons that have been learnt from its participation with both the government and the private sector in these PPP projects.

Mr. Ibrahim Sattout a Partner at ASAR was the moderator of the panel which discussed insights and approaches to attracting key international funding to the Kuwait projects sector despite low oil prices.

Mr. Sattout noted: We are proud to have participated in this MEED Conference for the fourth year in a row. Our panels included distinguished speakers representing the various players involved in PPP projects. This was a great opportunity for the audience to interact with the panelists who shared with the audience their own insights and experience in respect of the PPP projects in Kuwait.

During the panel, Mr. Sattout and the panelists discussed, among other things, the key factors which lead to the success of PPP projects in general and in Az Zour North Phase 1 project in particular, whether the players should look for new models to implement these kind of projects and emphasized on the measures and enhancement to be considered (taking into account the key learning points), in order to make the PPP projects market more attractive to investors and lenders (including the contemplated amendments to KAPP guidebook for PPP projects and the standardization of certain documents and provisions in the project agreements).

Akusa Batwala a Senior Associate at ASAR participated on the panel which discussed the development of mega projects and encouragement of successful business techniques within Kuwait.

Akusa noted that: Kuwait has been able to draw on the experience of its regional neighbors and on international best practice in order to adopt successful business techniques in the procurement and development of its projects. By drawing on this experience, Kuwait is able to pick and chose the best methods for Kuwait to procure and develop its projects based on its own particular characteristics and legal terrain.

During the discussions, Akusa emphasized on the advantage Kuwait has had in being able to draw on the experiences of its regional neighbors to determine its own path in the development of its projects. She also pointed out that the adoption of certain international best practices will give international participants the confidence and assurance in their participation in PPP projects in Kuwait.

With dedicated offices in Kuwait and Bahrain coupled with its associated offices and relationships, ASAR provides clients across an extensive range of industry sectors with comprehensive legal advice and support for their business activities in Kuwait, across the GCC and beyond.

The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the Chambers Global Guide, International Financial Law Review (IFLR) and the Legal 500. In 2016, ASAR was awarded with the IFLR National Law Firm of the Year Award, an award which ASAR has been delighted to receive for the 8th consecutive year.