31 JULY 2020

5 reasons you should study project finance lawBy SkillxPro

Over the past two decades, we have seen a phenomenal rise in Foreign Direct Investment (FDI) in the projects sector that included housing, townships, build up infrastructure, and the construction development projects that stood at a whopping $US 14 billion.

The rise in the number and the scale of the projects have given rise to complexities, and so disputes arise. There are a lot of terms & conditions involved in executing projects of high magnitude that require an expert hand in drafting & handling legal disputes of the project. There has been an ever increasing demand for lawyers who have knowledge and skills to tackle such scenarios. However, as project finance is not taught in schools there is a dearth of talent.

If you are planning to build your career in project law or if you want to know more about the subject, keep reading.

So what do you mean by Project Law?
In simple terms, ‘project law’ means practicing law in the area of project finance that includes the financing of large infrastructural development projects, in various sectors (dams, power plants, railways, road & bridges, ports, etc).

Project finance on the other hand involves developing and providing funding to large infrastructural projects that are spread over various industries and verticals throughout the country and sometimes internationally. The main aim to finance these projects is to ascertain the revenue generation from it to increase the ROI. Generally, the investors or the funding institute hypothecate all the assets of the project as security.

Why should you choose Project Law?
When you are at an important juncture as a law student in your career where you have to make an important decision of choosing the right specialization, you can look at project law as a very viable option, and we give you 5 reasons why you should definitely do Project Law.

  1. A prospering sector:
  2. The project sector is increasing at an accelerated rate with huge infrastructural projects, with projects worth more than US $25 billion in the infrastructure development sector. The Indian government has made it one of its priorities to invest heavily in the infrastructure sector in the next 5 years that would lift the accelerate capabilities of the country to international standards.
    The rise is the project sector and the size of projects has increased complexity of the project which gives rise to disputes. As these disputes cost a lot of money it's imperative to resolve them as soon as possible, that's where project lawyers come into the picture.

  3. A wider scope:
  4. You can get an opportunity to work in an established law firm who have big corporate clientele who are into projects of high magnitude. In such a scenario you would have a greater scope as compared to other law graduates working in the same firm because of your expertise in Project finance, and project finance law. Your knowledge and expertise in the projects sector and project law will give you an edge.

  5. Various avenues:
  6. Once you are specialized in project law there are various avenues for you. You can work as an in-house counsel where-in you will be working with major banks, huge project companies, and large institutions. Having a background in project finance, and project finance law will give you an added advantage as you would understand the project sector and the law about the sector better than others.

  7. Play a vital role:
  8. You play a pivotal role in the project finance team who negotiates draft and structure all the legal documentation of large projects that are being funded. Your role involves the evaluation to understand if there are any uncertainty and brainstorm strategies to eradicate these issues. You would carry out due diligence on the project and coordinate with various other parties involved.

  9. Improved communication with various stakeholders:
  10. Being well-versed with the projects sector and law you would be in a better position to understand the expectations and objectives of the project. You would be working with different stakeholders internally and externally. You would be advising the client on effective management of the risk and encourage them to move ahead in financing the projects

How can you start?

Unfortunately, most of the law students who want to join project finance, and project finance law teams lack the knowledge and expertise since there are a very few institutes and colleges in our country that teach project finance law.

SkillxPro is an online platform that has created best in class law courses in niche subjects like project finance law that is taught by the industry stalwarts from some of the biggest law firms in India. Through this course, you would be able to get a hands-on practical exposure along with theoretical knowledge.

So if you want to build your career in project law or want to gain more expertise about the sector you can register for our Project Finance Law course https://skillxpro.com

Through this comprehensive course, you will learn a complete transaction cycle of project finance. To know the in-depth about the course visit us at this link.

Wrapping up, final take for all the aspiring law students is that if you in your final years, and looks to choose a specialization do give, ‘project finance’ thought for a lucrative and wider career scope.

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