International projects in the power, water and oil and gas sectors have been pumping out multibillion-dollar deals with startling regularity. But with Allen & Overy (A&O) becoming the last of the magic circle to take the sword to its projects practice, it is arguable which firms are best positioned to make the most of these emerging markets.

From the Nigerian oilfields to the gas reserves of the Caspian Sea and the massive water and power plants in the Middle East, the battle lines have been drawn. Casualties have been seen from both the UK and US. Cadwalader Wickersham & Taft recently cut loose its projects team. It was neither receiving any work from the mega-deals, nor competitive in domestic PPP/PFI work. A&O partners have had their equity points cut, signalling the death knell... Full Story...

Posted by rjorr at February 23, 2006 5:48 PM