Ian Siddell

Ian Siddell

  • Riyadh
Not admitted to practice in Saudi Arabia 

Ian heads our Gulf banking & finance practice and has been resident in the Gulf since 1996. He has specialised in banking and finance matters since he qualified as an English solicitor in 1986 with a particular focus on Islamic finance and project finance. He also has extensive experience in acting on multi-sourced and ECA supported financings. He is consistently ranked as a leading lawyer / expert in Saudi Arabia, Bahrain and Qatar by IFLR, Chambers Global and Legal 500. Ian is admitted to practice in England.

Representative clients, cases or matters

  • Acting as lender’s legal counsel for the lenders to a consortium in relation to financing for the construction and operation (under a BOOT scheme) of a major new sewage treatment plant in Saudi Arabia.
  • Acting as lender’s legal counsel for the lenders to a consortium in relation to the financing for the development, design, permitting, engineering, financing procurement, construction, commissioning, testing, completion, ownership, insurance, operation and maintenance and final dismantling and decommissioning of a greenfield seawater RO desalination plant in Saudi Arabia including the development, financing procurement and construction of related transmission lines and a substation.
  • Acted on the Sakaka PV IPP greenfield 300 MWac solar photovoltaic project designed as a standalone facility based in the northern region of the Kingdom of Saudi Arabia (a) for HSBC Saudi Arabia in its capacity as Onshore Security Agent under the Senior Financing and (b) as Saudi-law counsel to Arab National Bank under the EBL Financing.
  • We continue to advise Ma'aden Wa'ad Al Shamal Phosphate Project Company and the Sponsors on the project financing (structured on an Islamic and conventional basis) of one of the largest phosphate fertilizer production projects in the world. Most recently this has included assisting with the structuring, drafting and review of documentation required in connection with the transportation by rail of the project's feedstock and products.
  • Advising the Public Investment Fund in connection with a SAR 787.5 million facility made available to ArcelorMittal Tubular Products Jubail Company L.L.C. to finance the development of a high quality seamless tube production plant in Jubail Industrial City, Saudi Arabia.
  • Advising Saudi Arabian Mining Company (Ma'aden), Saudi Basic Industries Corporation and The Mosaic Company (the "Sponsors") who have entered into a joint venture to undertake the construction, development and operation of a mining and integrated fertilizer production project located in Um Wu'al and Ras Al Khair in the Kingdom of Saudi Arabia (the "Project"). This includes advising the Sponsors on (i) all aspects of the Project's financing including the drafting and negotiation of approximately US$5.2 billion worth of Islamic and conventional facilities from regional and international banks, export credit agencies, multilateral organisations and Saudi government lending agencies and (ii) certain land, marketing and other project arrangements.
  • Acting as legal counsel for Ma'aden Bauxite and Alumina Company and Saudi Arabian Mining Company (Ma'aden) in relation to the SAR 4,245 billion (US$ 1.132 billion) amortizing syndicated unsecured facilities made available to refinance its existing project finance debt (other than its Public Investment Fund (PIF) indebtedness).
  • Acting for Ma'aden Aluminium Company and Saudi Arabian Mining Company (Ma'aden) in relation to the circa US$ 1.8 billion amortizing syndicated facilities made available to refinance its existing commercial and SIDF project finance debt (other than its Public Investment Fund (PIF) indebtedness).

Publications, presentations and articles

  • "Examining Financing Structures for Petrochemicals Projects in Saudi Arabia", MEED Conference – Corporate & Project Finance in the Middle East, 16-17 October 2001.
  • "Projects Finance in Saudi Arabia: Legal Issues for Lenders", MEED Conference – Emerging Opportunities for Corporate & Project Finance in the Middle East, 18-19 October 2000.

Professional affiliations

Member of the Law of Society of England and Wales.

Education and admission

Ian was educated at the University of Kent, England where he graduated in law with first class honours and subsequently at Lincoln College, University of Oxford, England where he was awarded a B.C.L.