Leading global 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.
The Herbert Smith Freehills Kramer team was led by Head of Middle East Corporate Chris Walters, Mainland China Corporate partner Calvin Ho and UAE based Projects partner Christopher Cross. They were supported by of counsel Julian Grant, senior associate Chunyuan Dou and associates Jingyi Zhou, Alex Hamilton, Kim Shepherd and Rayanne Ibrahim.
Head of Middle East Corporate Chris Walters commented: "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 commented: "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."