Hunton & Williams is the lead transaction counsel to China Road and Bridge Corporation in a $1.8 billion public-private partnership (PPP) development of a 190-kilometer expressway in Cambodia.CRBC, one of the world’s largest construction companies, signed the toll-risk concession agreement with the Cambodian government on 11 January 2018 in the presence of the Chinese premier and Cambodian prime minister during the Mekong-Lancang Cooperation summit meetings between China, Cambodia, Thailand, Myanmar, Laos and Vietnam.
Key project
A key project in China’s One Belt, One Road initiative, the expressway will link Cambodia’s capital, Phnom Penh, to Sihanoukville, site of the nation’s only deep-sea port. Construction is anticipated to begin in the summer of 2019 and take four years to complete. 'It is truly rewarding to be involved in a project of such magnitude. Connecting the only deep-sea port in Cambodia with the capital, the expressway is expected to transform the nation’s economy,' said London-based energy and infrastructure partner Kirk Lovric, who leads the Hunton team advising CRBC for the last 18 months.
Next phase
Following commercial close, Hunton & Williams is continuing to advise CRBC in connection with matters related to financial close, the next phase of the project. In addition to Lovric, the team also includes London-based senior attorney Jamie Head and associate Humphrey Kangha, and Bangkok-based associate Brad Alexander.
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