Projects and infrastructure in Peru
Estudio Echecopar member firm of Baker McKenzie International remains hard to beat for experience across the full stream of project-related work, from public bids and financing to construction, operation and maintenance. The cross-disciplinary team is led by top finance lawyer Juan Carlos de los Heros and administrative law expert Juan Carlos Morón, 'recognised professionals in the sector' who are praised for their 'commitment to the work assigned'. Key team member Javier Tovar led advice to Consorcio Transportadora Salaverry on its winning bid for the design, financing, construction, exploitation and transfer of the Salaverry port terminal in northern Peru (value $216m), while other headline projects include representing IBT Group in a complex PPP to design, build, equip, operate and maintain two hospitals located in Lima. Additional names to note include Maria del Carmen Tovar, who has experience in concessions, regulatory matters and government contracts; and mining partner Valentin Paniagua Jara.
Garrigues stands out for its knowledge and teamwork, say clients, and is a market leader in project finance, where practice head Oscar Arrús excels. However, the Lima office of this Spanish-powerhouse firm has capability across the whole life-cycle of projects, evidenced by its work for Petroperu, advising on the structuring and execution of an international bid process for the operation of its major oil terminals in southern Peru. Other headline instructions include representing the lenders, Sumitomo Mitsui Banking Corporation and COFIDE, in a $142m financing to Ergon Peru for the development of its photovoltaic renewable-energy projects. Key members of the team include: regulatory and public law partner Victor Baca; corporate partner Sergio Amiel; and both Thomas Thorndike and José Francisco Meier, who typically act for sponsors and financiers. Diego Harman, who was raised to the partnership in Occtober 2019, and principal associate Johanna Holz, are also noteworthy regulars on deal teams.
Few major projects come to market without the involvement of Miranda & Amado, 'one of the best firms in this area', its expertise, experience and supersize team ensuring it lands key roles. The practice continues to advise Petroperú on the development and financing of the $3.5bn Talara crude oil refinery modernisation and expansion project; the advice is led by practice co-heads Luis Marcelo De-Bernardis -an energy, natural resources and infrastructure specialist- and oil and gas-focused Guillermo Bracamonte. De-Bernardis is also leading the team acting for Samay I on the financing, construction and operation of the $400m, 720MW Puerto Bravo non-spinning reserve power plant in Mollendo. Other recommended partners include Alberto Delgado for mining project financing and development - he is recommended 'without equivocation'; and José Miguel Puiggros, who is highly experienced in project finance and projects-related capital markets work.
A 'very experienced team' at Philippi Prietocarrizosa Ferrero DU & Uria shines in the financial and regulatory aspects of major road, port, railway, airport and water infrastructure projects, where clients appreciate the 'integrated specialists for all aspects of the project', enabling the firm to 'understand all sides of a problem'. Team leader and project finance specialist Ronald Fernández-Dávila is repeatedly singled-out for his 'great experience with ongoing infrastructure projects', is 'well recognised in the sector' and has a 'great approach with clients'. He is leading advice to COVIPERU, the concessionaire of the Red Vial No. 6 section of the Panamericana Sur Highway, on concession amendments to enable the construction of the third phase, a second lane stretching 54km. Other key advisers include Manuel Ugarte.
Rodrigo, Elías & Medrano – Abogados has a pre-eminent offering, particularly in the mining-projects segment where top-flight lawyers from across the firm's finance, regulatory and mining practices combine to provide 'unparalleled experience in project finance transactions', 'unique dedication' 'insightful advice' and 'full support, especially in the final mile'. The practice acted as local counsel to Minsur subsidiary Marcobre on the $900m project finance for the development of its landmark Mina Just mining project. In the energy arena, the team acted for the lenders syndicate in the $175m hybrid project financing for the 220kV Cajamarca transmission line. The deals were led by Jean Paul Chabaneix and Fernando Molina respectively, the pair are described as the 'best project finance team in Peru and one of the best across Latin America'. Other members of the 'fantastic' and 'commercial team' include head of mining Luis Carlos Rodrigo Prado and project finance-focused Juan Diego De Vinatea.
DLA Piper Perú continues to turn heads in this field, earning roles on multiple key projects in the country and the region. In Carlos Nuñez and Jorge Córdova the practice now boasts two expert partners and the team has seen its deal list expand in a challenging market. Recent mandates include advising Intersur, the construction concessionaire of section four of the coast-to-coast highway through Peru and Brazil, involving contractual, project finance, regulatory and arbitration advice; and acting ACC subsidiary Minera Chinalco on the expansion of its $1.2bn Toromocho mining project in the Junín region. Principal associate Víctor Velásquez stands out among a number of experienced associates in the team.
Hernández & Cía. Abogados advises some key players, including government ministries and agencies, financiers and concessionaires, across a range of sectors. Key partner José Manuel Abastos is currently acting for the International Finance Corporation (IFC), as adviser to government investment promotion agency Proinversion, on the design, construction and operation of the $900m Headworks and Conduction of Drinking Water Supply in Lima. Abastos also teamed up with Alfredo Filomeno to assist the institutional investors -including BlackRock Real Assets- with the $350m refinancing for the Longitudinal de la Sierra Tramo 2 highway project. Brendan Oviedo is widely-known for his electricity expertise and project finance in general, and Ricardo Luque is very experienced. Since publication, Gracy Zapata has been raised to the partnership, effective January 2020.
Payet, Rey, Cauvi, Pérez Abogados' tier-one corporate and finance practices lend themselves well to major project work, attracting some significant project finance and development instructions. The practice acted as local counsel in the headline $900m project finance for Marcobre’s Mina Justa project, representing the 16-strong syndicate of lenders that included Société Générale, Crédit Agricole and Natixis. On a less positive note, former co-head of the practice Aldo Reggiardo left to lead the new Peru office of Spanish giant, Cuatrecasas; the firm's projects practice will now be led by fellow co-head Juan Antonio Egüez and counsel Giovanna García. Egüez is counsel to Graña y Montero, as shareholder of Gasoducto Sur Peruano, in connection with the termination of the concession agreement for the development of the Southern Gas Pipeline project. Other clients include China Development Bank, Banco de Crédito del Perú, Clean Energy del Perú, Transportadora Callao and Proinversion.
'Highly skilled in projects and infrastructure', CMS Grau draws praise for its professionalism and 'excellent attention to clients'. PPP specialist Giancarlo Villafranqui brings 'great skills' and a 'high knowledge of the market' to the team, which he co-leads alongside senior practice partner Michelle Barclay, who focuses on investment, projects and infrastructure and is noted for her effectiveness in bidding processes. Villafranqui is currently leading advice to Spanish construction company COPASA on two significant projects: the $263 public tender for the wastewater-treatment system of the Lake Titicaca Basin; and the public tender for the concession of the Huancayo-Huancavelica railroad PPP project, value $235m. Other figures of note include Liliana Pautrat (for mining and associated transport matters), Augusto Astorga (infrastructure), Carlos Hamann (energy) and Ramón Huapaya (public sector regulation, concessions and infrastructure).
Navarro Sologuren Paredes Gray
Construction boutique Navarro Sologuren Paredes Gray advises on public tenders, construction, development and dispute resolution of public and private projects, with clients citing the firm's technical as well as legal knowledge as a standout feature of the practice. Consequently, it attracts some significant mandates, such as acting for the organisers of the 2019 XVIII Pan-American Games on the bidding process and contractual aspects of the various infrastructure projects required, and representing the concessionaire of Salaverry Port in the PPP for infrastructure improvement. Name partners Enrique Navarro and Jaime Gray co-lead the practice.
Rubio Leguía Normand acts for lenders, constructors and concessionaires, among others, across a range of sectors and a wide variety of projects. They include the development of the Lago Titicaca Basin municipal wastewater treatment system, where the team is acting for bidder Aguas de Puno Consortium; and representing Banco de Crédito del Perú and Credicorp Capital in $28m financing to Megacentro Lurín, for the construction of a 100,000m² logistics park in Lurin, Lima. Led by specialist partner Milagros Maraví, the 'very experienced team' is highlighted for its 'full availability', and also includes Carlos Arata, who is singled out for his finance expertise, and Jeanette Aliaga who joined from Philippi Prietocarrizosa Ferrero DU & Uria in 2018.
Energy boutique Santiváñez Abogados naturally has expertise in advising on significant projects in the sector, particularly electricity, gas and mining infrastructure. Key partner Paul Súmar is currently leading advice to government investment promotion agency Proinversión regarding its $400m natural gas massification project, designed to facilitate the delivery of natural gas by pipeline to seven regions in central and southern Peru. In other work, the firm is acting for Gaz Et L’Energie on the development of its $500m CT Humay power generator located in Ica; name partner and high-profile energy practitioner Roberto Santiváñez is leading on this mandate.
Despite its small size, boutique firm Vidal Abogados acts for a many major clients, including a number of government ministries. They include the Ministry of Transport and Communications, which the firm is advising on contractual modifications to enable partial use of the second road of the $102m Puno-Juliaca highway development to ease project delays. The team is also advising state-owned water company SEDAPAL in an $8m arbitration against the consortium concessionaire of a water and sewage system expansion project. Other clients of the practice, which is led by Julio Vidal Villanueva and Evelyn Román Carrasco, include Veolia Group and the Ministry of Housing, Sanitation and Construction.
EY Law launched a new projects and infrastructure practice in mid-2019 with the hire of partners Juan José Cárdenas and María Luisa Peña, plus their team, from Rebaza, Alcázar & De Las Casas. Described as 'business oriented, responsive, efficient and easy to work with', the practice also has a 'strategic and practical view that is not common in the legal environment'. Praise for individuals is equally high: Cárdenas 'understands the business challenges of his clients'; Peña is highly recommended for her experience; and senior associate Natalia Gallardo is 'detail-oriented, quick to adapt to change and great with communicating internally and with clients'. The team has previously worked with Veolia Servicios Perú, the Deloitte Talara Consortium and China Railway Tunnel Group Co (CRTG).
In the wake of the mid-2019 loss of much of its projects team to EY Law, Rebaza, Alcázar & De Las Casas has sought to move rapidly to rebuild its capabilities in the sector. Corporate partner Luis Miguel Elías, who has long had a degree of engagement in project matters, is currently heading up the practice, with key support coming from senior associates Maite Colmenter and Mirko Medic. Moreover, the firm has hired the very well-regarded Ana María Sánchez from the New York office of DLA Piper LLP (US); and Jesús Revilla, formerly a senior in-house legal advisor at construction group Graña y Montero; both arrive as senior associates. As a result, the firm has ensured continuity of service, with current matters including advising state private investment agency Proinversión on the structuring of the APP agreements that will regulate future infrastructure projects in Peru; and Santander and BBVA on a financing to Asterion for the acquisition of telecoms infrastructure from Telefónica. Other clients include the Deloitte Talara Consortium, Ceragon Networks, Andean Tower Partners, Enel, Solarpack, Quimpac, CRTG and GyM Ferrovías.