The firm’s major strength is in Project Financing and Projects, especially private power. Kairas Kabraji acted for the Sponsors and the Project Company in the pioneering Hub Power Project; for the lenders in the Kohinoor, Gul Ahmed, and Southern (Raiwind) Power Projects; for the Lenders and Equity Arrangers in the Liberty Power Project and for the Sponsors and the Project Company in the Tapal and Tractebel Khaleej Power Projects.
The Firm acts for: the financiers, on the first privately financed (84MW New Bong Escape) Hydroelectric Project in Azad Jammu and Kashmir (AJK); and for a local banking consortium in the project financing of Fauji Fertilisers’ 50MW Wind Power Project, the first in Pakistan to achieve financial closing (February 2011).
The firm also has capability in mining and infrastructure projects, having acted for the original sponsors of the multi-billion dollar Reko Diq Copper and Gold project in Balochistan; and acts for the sponsors of a coal and cement clinker terminal at Port Qasim, Karachi and a proposed container terminal concession from Pakistan Railways at Lahore Dry Port.
In addition to representing its clients in the superior courts, Salman Talibuddin has special expertise in international commercial arbitration. The firm acted for: the Civil Aviation Authority of Pakistan against the French contractor of the new terminal at Karachi airport; the Government in a high-profile ICSID arbitration arising from a customs inspection contract; the Malaysian sponsors of a power project in relation to protracted disputes with a (then) state-owned power purchaser and the Government, involving multi-jurisdictional litigation; a local service provider in an ICC arbitration against Pakistan subsidiary of BP, concluding in a substantial award in favour of a client; for The Hub Power Company in its internationally highly publicised tariff dispute with the state power utility involving litigation up to the Supreme Court and ICC arbitration; for Kot Addu Power Company and International Power (its major shareholder) in a tariff and corporate governance dispute with the other majority shareholder and sole (state-owned) off-taker.
Kairas Kabraji has advised the financiers on virtually all, major, aircraft financings for Pakistan International Airlines since 1976, including the US Ex-Im Bank supported financing of eight new Boeing 777 Aircraft; and an export credit supported financing of seven new ATR aircraft. He was also engaged to provide technical support to the Government in preparing the Pakistan domestic legislation to implement the Cape Town Convention and Aircraft Protocol.
In telecommunications the firm has acted for Telenor AS in its successful bid for a mobile licence and subsequent network rollout; and for China Mobile in the landmark privatisation of Pakistan Telecom and in a 100% equity acquisition in a Pakistan mobile operator, now a client.
Temasek (Singapore’s sovereign wealth fund) is a long-standing client of the firm in relation to its numerous acquisitions and joint ventures in Pakistan.