Debevoise & Plimpton LLP has advised Solidcore Resources plc (“Solidcore”) in its $600 million financing for construction of the Ertis POX project.

The financing includes a $300 million from the European Bank for Reconstruction and Development, and $300 million from a syndicate of commercial banks comprising ING (as the Coordinating Mandated Lead Arranger), Société Générale and Abu Dhabi Commercial Bank. This portion of the facility has an option to be increased for up to additional $300 million (accordion option).

Ertis POX is Kazakhstan’s first large-scale and high-tech full-cycle pressure oxidation plant for refractory concentrate processing, located in the Pavlodar Special Economic Zone.

For full details of the financing, see the official release here.

The Debevoise team advising Solidcore was led by counsel Dmitry Karamyslov and partner Alan Kartashkin, and included associates Oliver Binns and Daria Serebrova.