Nasirud Doulah

Practice Areas

17+ years of seasoned practice in energy, corporate, finance, and construction matters with project finance/development and documentary credit as stressed areas. Advised in major projects in the energy/ infrastructure sector with extensive PPP/infrastructure transaction advisory experience. Key researcher to complete Bangladesh Corporate Governance Country Assessment Report for IFC. Has been acting as an external legal counsel for the Asian Development Bank for its trade and supply chain finance program in Bangladesh. Recent transaction highlights include:

• Advised ADB Ventures in a seed financing in an energy start-up in Bangladesh. Advising ADB in project finance mandated to a 100MW+ renewable power project. Advising IFU on another seed financing into a healthcare start-up.

• Lender’s counsel to China Export-Import Bank (CEXIM) for USD 2.4 billion Patuakhali Thermal IPP and to China Development Bank (CDB) and BIFFL in Dhaka Bypass Expressway. Acted in project financing of the First Dhaka Elevated Expressway. Acted for Sinosure in four thermal and three solar IPPs. Acted as Lender's Counsel for ADB, AFD, IFC, European Investment Bank, Islamic Development Bank, Finnish Fund for Industrial Development, Societe Generale, CEXIM, CDB, Industrial & Commercial Bank of China, Citic Bank, and Agricultural Bank of China and so on in numerous projects.

• Appointed by IFC in three PPP technical advisory mandates for Maheshkhali LNG Terminal, Patenga Container Terminal and Dhaka Airport 3rd Terminal. Other projects include three major toll road PPPs, Payra Port Capital Dredging PPP, 2nd Kanchpur-Meghna-Gumti Bridges, South Asia Subregional Economic Cooperation Road, Chinese Economic Zone at Anwara and China - Bangladesh Iron & Steel Production Zone. Advised Sumitomo and Kajima Corporation on several MRT line EPCs, TBEA on the Dhaka City Underground Cabling Project, Transrail on overhead supply line for Rooppur Nuclear Power Plant and Samsung on Dhaka Airport 3rd Terminal.

• Structured and developed 120+ power projects for clients like General Electric, Blackstone, Golar Power, AES, El Paso etc. Representing major developers in renewable such as Sinennergy, Scatec, CMEC, Total, ZTE, Sharp, etc. Acted for General Electric in four IPPs including Summit Meghnaghat, Unique Meghnaghat, Confidence Mirsharai CCGTs and 1250 MW CCGT under JV with a state-owned enterprise.

• Acted for Excelerate Energy in 1st LNG terminal and for the lenders in the 2nd LNG terminal in Maheshkhali. Lenders counsel to Escorp LPG Plant. Acted in the latest production sharing contracts for ONGC, OIL, POSCO, and Daewoo. Advised British Petroleum in its operation and Sinopec in a JV with Bapex. Acted in several gas pipeline projects.

• M&As include Shenzhen Stock Exchange/Shanghai Stock Exchange acquisition of significant stake in Dhaka Stock Exchange, Bill & Melinda Gates Foundation's acquisition of a significant stake in Bkash followed by divestment to Ant Financial and Softbank, The Social Loan Company acquisition of Cashe Alliance and Capital Alliance Ltd. acquisition of a merchant bank. Fintech clients include Fingular, Ant Financial, Microsoft, Amazon, Google and Facebook.

• M&As in the energy sector includes Santos divestment, Picnic’s acquisition of Summit Surma Petroleum terminal, Zhenhua's USD2b bid for three Chevron gas fields, Ophir acquisition of Santos assets and merger with Medco, AES acquisition of Covanta power assets, Beringia acquisition of two power plants, China Huadian acquisition of a 70 MW solar park, Powerchina acquisition of a 100MW solar park and so on.

• Other M&As include Aster and Blackstone merger to form a largest regional healthcare facility, General Atlantic's acquisition of Actis, Holcim and Lafarge Merger, Merck's acquisition of Elanco, Microsoft acquisition of Nokia undertakings, Nokia acquisition of Alcatel Lucent, ITS acquisition of Huawei undertakings.

• Sponsor's / Exchange counsel for public listings such as the Evergreen Group, SML Holdings, and Infinity Chemical listing in Hong Kong Exchange, DXN Group listing in the Main Market of Bursa Malaysia Securities, Xinte Energy listing in Shanghai Stock Exchange, and IDP listing in Australian Stock Exchange.

• FDI matters include PepsiCo’s JV, United Biscuit's JV with ACI, Associated British Food JV, and so on. Major corporate restructure clients include Malaysian Airlines, Pendaker Energy, Walmart, JC Penney, General Electric, Kiabi, and so on. Advised a pool of Singapore-based institutional investors in subscribing to Beximco's Green Sukuk. Advises global institutional investors like Citibank, Morgan Stanley, Blackrock, Fonterra etc. on capital market. Major lease/asset finance clients include GECAS, AerCap, EDC, Avolon, and so on.

Publications

PPP Guidebook (Cakmak), Legal Aspects of Doing Business (CILS), Project Finance (GTDT), Corporate Governance (World Bank), Foreign Tax & Trade Briefs, Digest of the Commercial Laws of the World (WestLaw), Renewable Power (ICLG)

Personal

BSc. Engg. (BUET), LLB (University of London), MBA-Finance (IBA). Member of Thomas Jefferson School of Law Tax, and AML research teams