29 November 2022 - Events
Withers KhattarWong LLP, the Singapore office of international law firm Withers, has strengthened its footprint in Indonesia with its work as the lead counsel for PT Kayan Hydro Energy (PT Kayan), PT PLTU Celukan Bawang (PT PLTU) and PT General Energy Bali (PT GEB).
The Withers KhattarWong team, led by partner Winston Seow and senior legal associate Yap Ling Man, advises PT Kayan and PT PLTU on key Belt and Road Initiative (BRI) projects along Indonesia’s Regional Comprehensive Economic Corridor (CEC).
This April’s BRI conference held in Beijing, Withers KhattarWong advised PT Kayan on the signing of an Engineering, Procurement and Construction (EPC) contract exceeding US$1 billion with Power China Group’s Sinohydro. The EPC contract forms part of the US$17.8 billion energy projects to be built by PT Kayan along the Kayan River in North Kalimantan. Withers KhattarWong also advises PT Kayan on project financing to construct the hydropower plant and all other aspects of the projects.
The BRI conference also witnessed the signing of a memorandum of understanding between PT PLTU and a Chinese State-owned Enterprise to work towards a US$1.6 billion joint venture, involving the construction of a power plant in Bali. Withers KhattarWong is advising PT PLTU on the joint venture, construction, project financing and all other aspects of this project. Separately, the firm has been the lead counsel to PT GEB, which owns and operates a coal-fired power plant in Bali. It advised PT GEB on a US$240 million project refinancing last year.
Winston Seow comments, “Our work with PT Kayan, PT PLTU and PT GEB underscores Withers KhattarWong’s cross-border capabilities in project financing and structuring of joint ventures, amongst others. We are thrilled to have worked closely with these clients throughout their entire BRI projects. The cooperation between China and Indonesia in the BRI presents significant opportunities for both Indonesian companies and Chinese investors, and Withers KhattarWong remains well-placed to advise companies along the CEC and the region.”
Withers KhattarWong has extensive experience in representing Indonesian companies in complex deals and transactions. For instance, its team advised PT Bumi Resources Tbk. on one of the largest and most complex debt restructuring transactions in Southeast Asia. Withers KhattarWong also has strong experience advising Chinese State-owned Enterprises and corporations in their projects and transactions in various countries. One of them relates to investments in a project to construct power plant(s) in Vietnam.