Projects & Project Finance

Projects & Project Finance

Project financing forms the backbone of many large construction and infrastructure projects, in both the public and private sectors. These projects often require complex financing structures. Houthoff's Projects & Project Financing Team specialises in providing our clients with the advice and assistance that they need for such projects.

Our specialists have provided invaluable support to banks, financial institutions, investors, project developers, contractors and government bodies in the context of countless high-profile transactions. The Projects & Project Financing Team has helped secure a financial close for several of the largest DBFM and DBFMO projects in the Netherlands, and supported our clients throughout the execution of these projects. Thanks to the wealth of knowledge we have gained from these experiences, Houthoff enjoys an unrivalled position when it comes to projects and project financing.

  • recommendation people shaking hands
    "Houthoff Buruma is a truly reliable business partner with a great understanding of our company."
    Chambers Europe, Banking & Finance (2017 Edition)
  • recommendation people shaking hands
    "The firm maintains a pragmatic, personal element to its work and gives us all the attention that is required."
    Chambers Europe, Banking & Finance (2017 Edition)
  • recommendation people shaking hands
    "The ‘lean and very dedicated’ banking team at Houthoff Buruma has resources in Amsterdam, Rotterdam, London and New York, making it well placed to assist in multi-jurisdictional matters. Project finance is 'a particular area of expertise'."
    Legal 500, Banking and Finance: borrower side (2017 Edition)
  • recommendation people shaking hands
    Recommended
    Legal 500, Project finance and PFI (2017 Edition)
  • recommendation people shaking hands
    "Houthoff Buruma employs knowledgeable and skilful lawyers, the quality of the work is good and questions are answered swiftly. It gives us the absolute conviction that it will negotiate strongly to safeguard our company's best interests."
    Chambers Europe, Banking & Finance (2016 Edition)
  • recommendation people shaking hands
    "Houthoff Buruma is our preferred counsel for financial deals. It understands what has to be done, and has great communication skills too."
    Chambers Europe, Banking & Finance (2016 Edition)

Our expertise on projects & project financing

Our expertise in this area extends across a wide range of projects, including the development of motorways, wind farms, sluices, bridges and large government buildings. What these projects have in common is the necessity for an integrated legal approach. 

The Projects & Project Financing Team brings together many legal disciplines. Our specialists work closely together on areas such as financing, contract law, procurement law, environmental law, company law, competition law and energy law. They combine in-depth knowledge and experience with a pragmatic, client-centric approach that is aimed at a swift and cost-efficient project completion.

Thanks to our offices in London and New York, Houthoff also has a large international network that affords us access to superior expertise on foreign laws and regulations. All of this enables our Projects and Project Financing Team to offer bespoke services for every project. 
 
  • Advising a consortium of owners of the former NDSM-Wharf – VolkerWessels, Reggeborgh Group, Biesterbos Group – on planning and contracting issues regarding the redevelopment of this vast area in the Amsterdam-North Harbour.
  • Advising Commerz Real, the owner of the Amsterdam 'Twin Towers', the tenants of which are the Stibbe law firm and Akzo Nobel. Part of the estate is a large parking lot, partially built under Highway A10 ('the Zuidas'). The Dutch Government ("Rijkswaterstaat") needs to purchase this part of the building, in order to be able to proceed with a key project in national policy "Zuidasdok", an integrated project consisting of offices, a railway station, housing and (underground) infrastructure (railway and highway). Houthoff advises Commerz Real on the purchase agreement or expropriation. Houthoff has started litigation against the Zuidasdok zoning plan.
  • Houthoff, together with White & Case, advised the sponsors in a project finance of a test well. Value in excess of USD 1 billion.
  • Advising a consortium on its bid for the Beatrixkolk riverlock PPP project. Houthoff has been actively involved in the market consultation for the locks projects in the Netherlands and has been advising on bids for the three pilot lock projects, as well as for the larger Sea lock projects such as Ijmuiden sea locks (see below). These projects are unique since it is the first time that DBFM contracts are being applied on large wet infrastructure projects.
    One objective of the project is to transfer the positive experience of road PPP to inland waterway infrastructure. This project shall establish a best practice for procurement of "wet infrastructure" through PPP with the aim to accelerate the realisation of such projects in the future.
    These are challenging projects in many ways. For the first time, the latest in PPP is being applied on large infrastructure waterways, which will also need to attract multiple funders.
  • Advising and representing Jaarbeurs regarding the development of the largest cinema in the Netherlands at the Jaarbeurs complex in Utrecht.
  • Advising a combination of the large Dutch development companies Ballast Nedam and AM (BAM Group) on the redevelopment of a former FrieslandCampina (milk factory) plant in the city of Arnhem.
  • Currently advising one of the consortia on its bid for the IJmuiden Sea locks PPP. The IJmuiden sea locks are the biggest sea locks in the Netherlands, providing access to the Amsterdam harbour. This project will be the first large scale wet infrastructure PPP in the Netherlands (and the world), with an expected value of roughly EUR 750 million.
  • Advising G&S Vastgoed, the leading developer of the "Zuidas"-area in Amsterdam, regarding the new development plan "Ravel", which includes a mixed area of 10 acres at the Zuidas with houses, (sports) facilities, offices and retail.
  • Advising and representing Unibail-Rodamco regarding the development of a large shopping mall Leidsenhage (municipality of Leidschendam-Voorburg) and the redevelopment of the Zoetermeer City Centre.
  • Advised the OpenIJ consortium, consisting of BAM, Volker Wessels, DIF and PGGM, on the EUR480 million+ financing of its successful bid for the new sealocks at IJmuiden.

    This matter is particularly significant because when completed, these will be the largest sealocks in the world. Also, the IJmond project is the first large ‘wet’ infrastructure PPP project in the Netherlands to reach financial close. The IJmond project won Project Finance International (PFI)’s Europe PPP Deal of the Year 2015.
  • Advising the Dutch subsidiary of the large German rail construction company Spitzke on various rail construction and maintenance projects in the Netherlands.
  • Advising sponsors led by Hochtief on their bid for the Breda District Court DBFMO project and sponsors led by Strukton and Hurks on their winning bid for the RIVM DBFMO project. The team has also been advising on the following projects: sponsors led by (Belgian) Vlaamse Participatie Maatschappij, (Austrian/German) Strabag and (French) Sodexo on their bid for the Knoop barracks DBFMO project, and is advising a bidder for the Westland Townhall DBFMO project.
  • The team is currently advising Hochtief as member of a consortium bidding for the Rotterdam's Baan project, which will create a second motorway entrance to the city centre of The Hague, to a large extent by means of a tunnel trajectory.
  • The team is advising Vinci on its position in the GATE Terminal project in the Rotterdam port. The GATE Terminal is one of the world's largest LNG storage facilities.
  • Advised 15 banks, including BNP Paribas, Crédit Agricole and HSBC on the USD4.4 billion project financing to Oyu Tolgoi LLC. The Oyu Tolgoi mine is one of the largest copper and gold mines in the world and is located in Mongolia.
Jessica Terpstra

Key Contact

London
Advocaat | Partner
+44 207 422 50 42
+44 793 250 73 92

Key Contact

Amsterdam
Advocaat | Partner
+31 20 605 61 07
+31 6 5365 8037
Michel Klijn

Key Contact

Rotterdam
Advocaat | Partner
+31 10 217 25 43
+31 6 2221 0174