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Hiswara Bunjamin & Tandjung and Herbert Smith Freehills have advised South Korea’s largest water company on its successful consortium bid for a major water project in Indonesia.
K-water, South Korea’s state-owned water corporation, partnered with Indonesian state-owned construction company Adhi Karya for the project auction run by Indonesia’s Ministry of Public Works and Housing.
The consortium will supply water in western Jakarta and Tangerang City in the adjacent Banten province under a 30-year concession.
“We combined our infrastructure expertise throughout the region, including in Jakarta and Seoul, to assist K-water through a highly competitive auction process,” said senior international counsel Matthew Goerke.
“The skills of Herbert Smith Freehills counsel Ken Nam in Seoul and Hiswara Bunjamin & Tandjung partner Dhani Maulana Pattinggi in Jakarta in particular were essential to support the consortium partners over a two-year bid process.”
This is the latest in a series of water project auctions in Indonesia as the government increases critical infrastructure spending, but the first with an international consortium partner.
“We’re delighted with our clients’ success and are preparing for the next stage of the project, including EPC contracts and financing,” said Hiswara Bunjamin & Tandjung partner Dhani Maulana Pattinggi.
Matthew, Dhani and Ken led the team advising K-water, assisted by Hiswara Bunjamin & Tandjung associate Sigit Akhmad and Tokyo finance counsel Keith Gamble, with additional support and expertise provided by partners Hilary Lau in Hong Kong and Glynn Cooper in Kuala Lumpur, and by Toby Anderson, the firm’s global head of projects, finance, real estate and projects based in Sydney.