Magic circle giants Allen & Overy (A&O) and Clifford Chance (CC) have secured significant roles on project company EAgrium's $940m (£463m) financing of a fertiliser plant in the Nile Delta – Egypt's largest project financing transaction to date.

A&O, led by London projects partner Fiona Fitzgerald, was instructed by EAgrium at the outset of the transaction in 2005 and all of the financing arrangements for the deal were recently concluded.

The law firm won the instruction following a competitive pitch, after being approached by the project consortium's financial adviser, Royal Bank of Canada, for which the firm has worked before.

A&O's project finance team advised all consortium members, including Canadian agricultural products company Agrium, Egyptian Petrochemicals Holding Company, Egyptian Natural Gas, Egyptian Natural Gas Holding Company and Arab Petroleum Investments Corporation.

CC, led by finance partner Jeremy Connick, was brought in to advise on the financing of the project, after the project company asked banks to bid for the work earlier this year.

The firm acted for a group of underwriters and arrangers to the project, including the institutions BNP Paribas, Intesa Sanpaolo, Societe Generale, Arab Petroleum Investments Corporation, Export Development Canada and Arab Bank, plus a number of Egyptian banks.

Baker & McKenzie's Egyptian partner, Helmy Hamza & Partners, advised the sponsor on local law and Sharkawy & Associates advised the lenders. Agrium also turned to Canadian firm Bennett Jones for advice on gas supply agreements.