Legal Week reports
November 29, 2006 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Clifford Chance (CC) has advised Basell and Sahara Petrochemical Company (SPC) on a $527m (£275m) Islamic financing for the construction of a Saudi plastic derivatives plant.
The deal, led by Dubai finance partner Robin Abraham and assisted by senior associate Mohamed Hamra-Krouha, marks the first time a non-recourse project has been funded under a pure Islamic finance structure, involving no banks lending on an interest-paid basis.
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