Allens advises DUET on major pipeline partnership, underwritten placement and SPP

Allens has advised DUET Group and its 100 per cent owned subsidiary, DBP Development Group, on its joint venture with TEC Pilbara Pty Ltd, a 100 per cent owned subsidiary of Canada's TransAlta Corp, to build, own and operate a natural gas transmission pipeline from the Dampier Bunbury Natural Gas Pipeline to Fortescue Metal Group Limited's Solomon Hub iron ore operations in Western Australia's Pilbara region.

The project is expected to be completed by 31 December 2014, at an estimated cost of $178 million, and will be the longest gas pipeline built in Western Australia during the past 10 years.

DUET Group has successfully completed a fully underwritten placement to raise $100 million to fund the project.

As well as the placement, DUET Group has announced a security purchase plan, to raise up to $30 million to fund capital expenditure.

Lawyers from Allens' Perth, Melbourne and Sydney offices, led by Tracey Greenaway, Michael Hollingdale, Marc Kemp and Ted Hill, assisted DUET Group and DBP Development Group on the joint venture, construction and gas transportation agreements, and on the capital raising.

Mr Kemp said: 'This work follows Allens' recent advice to DBP Development Group on aspects of its agreement with Chevron Australia to build, own and operate the domestic gas pipeline for the Chevron-operated Wheatstone Project; and our advice to DUET Group on an attendant $100 million underwritten placement.

'We have been delighted to assist DUET Group, a long-standing client of the firm, on this most recent transaction.'

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