Articles by Leroy Levy, Partner, King & Spalding LLP

by: Faris Al-Louzi and Leroy Levy

Much of the PPP debate in Saudi Arabia has focused on the importance of shifting the public sector expenditure burden to the private sector. Wherever this has been the sole focus of a PPP programme, the responsible government has struggled to achieve value for money. If public expenditure is the only concern, it is certainly possible to pass the responsibility to the private sector, but at what long term cost? The UK government’s PFI programme of the 1990s placed insufficient emphasis on value for money. This ultimately resulted in the termination of the programme. In other jurisdictions, ill-conceived projects resulted in the public sector desperately seeking to restructure deals in an attempt to secure value for money.Read more

by: Leroy Levy

Saudi Arabia’s Vision 2030 represents the Kingdom’s vision for life without crude oil. This article explores key details of Vision 2030 and potential challenges for its implementation.Read more

by: Leroy Levy

Considering the complexity involved in developing a national PPP program, it is generally accepted that governments do not typically have the internal skill sets required to plan, implement and regulate such programs. The required skills include developing public policy, identifying appropriate projects, commercial and financial structuring , running the procurement process, negotiating contracts and overseeing the private sector’s implementation of each PPP project. Saudi Arabia’s Vision 2030 has been received with much praise from the international commercial community. However, without a strong capacity building program involving the establishment of strong PPP institutions, a robust regulatory regime, clear PPP procurement procedures and well trained government personnel, implementation will prove to be challenging.Read more

by: Andrew Metcalf and Leroy Levy

Introduction Islamic finance refers to practices used by those who wish to invest and arrange their finances in compliance with Shari’ah, or Islamic, law. Probably the most well-known feature of Islamic... Read more

by: Leroy Levy

Anticipated Saudi public-private partnership economic reforms will require new innovative deal structures. Past large-scale deals within the Kingdom may provide valuable insight on where best to begin.Read more

by: Leroy Levy

In July 2015, Air Products of the US and ACWA Holding of Saudi Arabia achieved financial close of the largest project financing of an air separation unit (ASU) project anywhere in the world.  The US$2... Read more