BACCIARDI PARTNERS assisted the Malaysian multinational group WASCO COATINGS LIMITED in a construction project belonging to the oil group TOTAL.
WASCO, via its Italian affiliate ISOAF Srl, will provide, following TOTAL’s contract award, the provision of line pipe thermal insulation services for the East African Crude Oil Pipeline (EACOP), for an overall value of USD 254.098.391,09.
The pipeline has a total length of 1,445 km and will transport oil from Hoima (Uganda) to the port of Tanga (Tanzania).
BACCIARDI PARTNERS has provided advice and assistance for the incorporation and registration of a joint venture company under Italian law named ISOAF Srl, owned by Wasco Coatings Europe BV – belonging to the WASCO COATINGS LIMITED group -, the Austrian company ISOPLUS Fernwarmetechnik Gesellschaft MBH and four Argentinian partners.
Subsequently TOTAL awarded the JV ISOAF Srl to carry out the thermal insulation services for the EACOP pipeline.
Specifically, the assistance of BACCIARDI PARTNERS included the overall planning of the joint venture relationship, the drafting of the articles of association and other corporate documents of the Italian joint venture company, the identification of corporate governance solutions and the finalization of shareholder agreements.
BACCIARDI PARTNERS provided assistance through a multidisciplinary team led by the managing partner Lorenzo Bacciardi, LL.M. and comprising the partner Pier Federico Orciari, the senior associate Gianluca Bastianelli and the junior associates Ms. Irene Cappelli e Rebecca Milandri of the Corporate Law Area.
WASCO COATINGS LIMITED is a multinational group with headquarters in Malaysia and 18 international offices, leader in the provision to the oil & gas industry of integrated engineering, procurement, construction, erection and commissioning services, with its own exclusive and cutting-edge technology.