Trojena Ski Slopes

Saudi Arabia

MayCap acted as financial advisor to Nesma and Mota-Engil for their bid for the development and operations of Ski Slopes in Trojena “Mountains of NEOM” the highest peaks in Saudi Arabia, reaching up to 2,600 meters in altitude.

It will be a perfect destination for summer hiking or winter skiing, with over 30km of ski slopes planned, making it an icon ie, world-class destination, blending natural and developed landscapes, and offering unique human-centric experiences for residents and visitors alike.

As a core attraction and in connection with Trojena’s successful bid to host the Asian Winter Games 2029,Trojena requires developing and operating the commercial ski slopes with an advanced snow making system across a total length of over 30km.

The Project financing however faces challenges in the form of:

  • Reviewed the Request for Proposals (the RFP) package received from the procurer
  • Developed and maintained assumption books, financial models along with key sensitivities, calculated relevant ratios (relating to equity returns)
  • Advised and assisted the sponsors on all preparatory legal workstreams to cover any bankability issues and risk allocations
  • Advised on the level and forms of sponsors support to the Project financing, including exploration of non-recourse debt financing and share-holders loan;
  • Explored options and strategies for the bid, financing structure, tariffs and terms and conditions for discussion with the Sponsors within the material limits of the timetable.
  • Closely worked with senior leadership in order to support Nesma and Mota-Engil in submitting the best bids possible.

For further information, contact Abhay Ketkar at abhay.ketkar@maycapadvisors.com.

Transaction Size

Confidential


Purpose

Development of business plan to underpin limited recourse project financing