SNR Denton announced today that it advised Tata Steel France Rail SA on a €66 Million rail sale and transportation contract as part of the global concession for the design, construction, maintenance, exploitation and financing of the new high speed railway (TGV) South Europe Atlantic.

 

“It was exciting to work on a deal that will benefit and enhance the transportation system in southern Europe,” said Daniel Azan, a Corporate of Counsel Paris/Amman that led the SNR Denton team.

 

In 2008, Réseau Ferré de France (RFF) opened an international bidding process for the award of this concession which constitutes the first private operation for railway transportation in France. The concession contract was awarded to Vinci, the main French construction company, which appointed the grouping Cosea for the design and construction of the railway. Tata Steel France Rail SA was chosen by Cosea for the supply and transportation of the rails based on its innovative proposal which included both the sale and the transportation of the rails. By selling first the steel which will be used to fabricate the rails (the “blooms”) and eventually the rails needed on site later on, the contract allowed the parties to minimize the risk relating to the increase of raw material prices.

SNR Denton’s team was led by Daniel Azan (of Counsel, Paris/Amman) and Abir Mansour-Afara (Associate, Paris), additional assistance was provided by Jeremy Cape (Partner, London) and Andrew Thornton (Senior Associate, London).