Financing of three hospitals and two power substations in Angola

Norton Rose Fulbright has advised the Ministry of Finance of Angola on the financing of commercial contracts for the design, construction and operations of three hospitals and two power substations in Angola, securing UK Export Finance (UKEF) support worth more than $500 Million

Led by Standard Chartered Bank, approximately US$430m is allocated to support a contract between Angola’s Ministry of Health and international construction firm ASGC UK to build three new hospitals – two in Luanda and one in Cabinda. These new hospitals will create more than 500 new hospital beds and provide much-needed healthcare to heavily populated areas of Angola, including specialised mother and child care, and a haematology unit.

The upgrading of two power substations in Viana and Gabela, which was led by HSBC and guaranteed by UKEF, will take place over the course of two years, significantly reducing North West Angola’s dependence on oil-generated power.

Dentons advised Standard Chartered Bank and HSBC on both transactions.

Norton Rose Fulbright advised Ministry of Finance of Angola with a team led by Madhavi Gosavi (Picture), with support from associates Katja Loncaric and Jessica Melville.

Involved fees earner: Madhavi Gosavi – Norton Rose Fulbright; Katja Loncaric – Norton Rose Fulbright; Jessica Melville – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Ministry of Finance of Angola ;