Australia: Norton Rose Fulbright acts on the development and financing of the Star Mountain Plaza project in Port Moresby, PNG
Last Updated: 20 February 2017

Global law firm Norton Rose Fulbright has advised Star Mountain Plaza Limited on a Papua New Guinea Kina 245,000,000 (AU$100.6 million) financing from Bank of South Pacific for the construction and operation of its substantial Star Mountain Plaza development in Port Moresby.

Norton Rose Fulbright acted on all corporate and shareholder arrangements involving a joint venture between three major PNG entities - Mineral Resources Star Mountain, Mineral Resources Ok Tedi and Petroleum Resources Kutubu Limited. The firm also acted on the major construction aspects of the project.

This follows the announcement of the opening of Norton Rose Fulbright's new office in Port Moresby in November last year, to service a broad range of growing sectors and industries as part of an expanded Asia Pacific network.

Star Mountain Plaza will consist of a 212 room hotel, separate convention centre, carpark, restaurants, bars, swimming pool and gym, and is being built for the APEC Summit in Port Moresby in 2018.

The company says that the project will embody "the aspirations of the people of Papua New Guinea" and "will herald a new era for landowner initiated investments" to the benefit of PNG people and communities.

"Unique to Star Mountain Plaza is Papua New Guinea's first Convention & Performing Arts Centre. A reflection of PNG's rich indigenous culture the facility is designed to meet current and future business, conference and convention needs while offering an iconic structure that serves Papua New Guinea's local community with pride," the company said on its website.

Sydney-based partner and Australian Head of Financial Institutions, Chris Redden, commented:

"We were pleased to have assisted Star Mountain Plaza Limited to obtain the funding needed to progress this important project. Not only will it provide the PNG people with a world-class facility, it will also assist PNG to run a successful APEC summit next year. 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."

Banking and finance: Chris Redden was assisted by special counsel Melanie Hunter and associate Celia Boyle.

Corporate and M&A: Partners Anthony Latimer and Steve Johns were assisted by associate Chris Sewry.

Construction: Partner Mark Waddell was assisted by senior associate Louise Santos.

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