NRF acts on $100m financing for commercial project in PNG

The project, which will include a hotel, convention centre and more, is being built for the 2018 APEC Summit in Port Moresby

NRF acts on $100m financing for commercial project in PNG

Norton Rose Fulbright has advised Star Mountain Plaza Limited on the financing for the Star Mountain Plaza Development in Port Moresby. The $100.6m financing from the Bank of South Pacific will be used for the construction and operation of the project.

The firm also acted on all corporate and shareholder arrangements involving for the joint venture between the Mineral Resources Star Mountain, Mineral Resources Ok Tedi and Petroleum Resources Kutubu Limited. It also advised on major construction aspects of the project.

Star Mountain Plaza will house a 212-room hotel, a convention centre, a retail precinct and office space. It is being built for the APEC Summit in Port Moresby in 2018.

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In November, NRF opened its office in Port Moresby, picking local lawyer Karo Lelai, the former GC of Kumul Minerals, as its office principal. 

“Opening our first PNG office last year was a reflection of the huge potential we see in that country, and the Star Mountain Plaza project is a great example of that potential being realised,” said Chris Redden, Sydney-based partner and Australian head of financial institutions.

 

Related stories:
NRF picks local principal for new PNG office
NRF fields Aussie team for pioneering APAC start-up capital raising

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