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Clifford Chance is advising Kuwait National Petroleum Company (KNPC) on its multi-billion dollar Clean Fuels Project (CFP), the first time that KNPC has sought to access debt markets. 

Financing of the first phase of the project was expected to close in early. The mandated lead arrangers are National Bank of Kuwait (NBK) and Kuwait Finance House on the conventional and Islamic finance tranches, respectively. 

The CFP is intended to upgrade and expand two of Kuwait's largest existing refineries at Mina Abdulla and Mina Al-Ahmadi. 

The Clifford Chance team is being led by partner Peter Avery in Dubai, with construction aspects of the project led by partners Sandy Hall in Abu Dhabi and Tim Steadman in London office.

 

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