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Dina Elshurafa is an associate in the Energy, Infrastructure, Project and Asset Finance Group in London. Dina specialises in project and Islamic financings with a focus on the oil and gas, petrochemical and power sectors.
Dina was part of the team advising Saudi Aramco (on both the conventional and Islamic side) on the PetroRabigh Phase 2 expansion project, a refinery and petrochemical project in the Kingdom of Saudi Arabia. She also worked on the second project sukuk ever issued on the Sadara Petrochemical Project in Saudi Arabia as well as the wider financing. She also advised the ECA and commercial lenders in the US$2.1 billion financing of Riyadh PP11, a greenfield gas-fired, 1,730 MW independent power project in Saudi Arabia and later advised the Lenders on the refinancing of this project.
Dina has also authored a number of publications including, among others, "Total and Partial Loss in Islamic Project Finance – an end or a new beginning?" Journal of International Banking and Financial Law (December 2015), "Sadara Sukuk – Saudi Arabia leading the way," Islamic Finance News (3 April 2013); "Mergers & Acquisitions: Islamic Finance finding its way," Islamic Finance News (20 February 2013); and "Project Finance and Sukuk in Saudi Arabia – an On-going Project?," Journal of International Banking and Financial Law (February 2013).
Represented of Saudi Aramco in the PetroRabigh Phase 2 expansion project, a refinery and petrochemical project in the Kingdom of Saudi Arabia.
Represented of Allianz Renewable Energy Fund in connection with its acquisition of the Great Glemham solar park in Germany.
Represented the European Bank for Reconstruction and Development on its trade facilitation programme.
Represented of the lenders, including the commercial banks and the Export-Import Bank of the US, in the US$2.1 billion financing of Riyadh PP11, a greenfield gas-fired, 1,730 MW independent power project in Saudi Arabia. The financing included US$1.55 billion in senior limited recourse project finance facilities, consisting of a mix of commercial bank loans, Islamic financing instruments and an export credit direct loan provided by the Export-Import Bank of the US. In addition, equity bridge loans were provided on both a conventional and an Islamic financing basis. This transaction was selected as 2010 Middle East Power Deal of the Year by Project Finance magazine.
Represented Saudi Arabian Oil Company (Saudi Aramco) with respect to its joint venture with The Dow Chemical Company to build and operate a US$20 billion world-scale integrated chemicals complex in Jubail Industrial City, Saudi Arabia. Once completed, it will produce 3.3 million tonnes per annum of over 300 chemicals and plastics products.
Sunshine and Shifting Sands, Recent Trends and Future Outlook in Oil and Gas Project Financings, International Comparative Legal Guide, 2nd Edition, April 2013, (co-author)
Sadara Sukuk – Saudi Arabia Leading the Way, Islamic Finance News, 3 April 2013, (co-author)
Mergers & Acquisitions: Islamic Finance Finding its Way, Islamic Finance News, 20 February 2013
Project Finance and Sukuk in Saudi Arabia – An On-going Project?, Journal of International Banking and Financial Law, February 2013
Insolvency Laws in Saudi Arabia, Time for Change?, International Corporate Rescue, Volume 9(5), September 2012