Herbert Smith Freehills Kramer Advised Sunstone Development Co On Joint Venture With Emirates Global Aluminium
Herbert Smith Freehills Kramer Advised Sunstone Development Co On Joint Venture With Emirates Global Aluminium
The global leading law firm Herbert Smith Freehills Kramer has advised Sunstone Development Co, the world’s largest independent pre-baked anode producer, on its UAE based joint venture with Emirates Global Aluminium, the largest ‘premium aluminium’ producer in the world.
The joint venture will construct a new anode manufacturing facility that will have a capacity of 300 thousand tonnes of anodes per year. This transaction aligns with Make it in the Emirates and the UAE’s Operation 300 billion industrial growth strategy. First anode production is expected in 2028.
Head of Middle East Corporate Chris Walters said, "We are continuing to see significant non-oil trade between the UAE and China, driven in large part by government led initiatives to diversify the UAE's economy and support long term investment projects. We are delighted to have advised Sunstone on their first manufacturing facility outside of Mainland China."
Mainland China Corporate partner Calvin Ho said, "The Middle East has been an attractive, and welcoming, destination for Chinese outbound investment and this transaction highlights the excellent opportunities available to leading players to work together and invest in key sectors in each market. It has been a pleasure to work with Sunstone on such a landmark project."
The Herbert Smith Freehills Kramer team was led by Chris Walters (Head of Middle East Corporate), Mainland China Calvin Ho (Corporate Partner), and UAE based Christopher Cross (Projects Partner). They were supported by of Julian Grant (Counsel), Chunyuan Dou (Senior Associate), and Jingyi Zhou (Associate), Alex Hamilton (Associate), Kim Shepherd (Associate), and Rayanne Ibrahim (Associate).
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