SNR Denton advised USG Corporation (USG), the Chicago based manufacturer of building materials, on their partnership with Oman based Zawawi Minerals.
This strategic and multifaceted partnership has been developed to meet the growing demand for USG’s building products in the Middle East and India and USG expects the investment of approximately $60 million to be incurred over two years, with the majority in 2012.
Based in the Salalah Free Zone in the South of Oman, the partnership will initially develop infrastructure and operate a gypsum quarry. A second joint venture company will build and operate a new low cost wallboard plant in the Free Zone. Salalah has shipping access to many ports in India and is an ideal location for providing gypsum to future USG wallboard plants.
“This strategic partnership is a key step for USG providing access to both growth markets of the Middle East and India” said Rick Lowes of USG Corporation, “and positions us well to enhance our success in these markets.” Dan Gordon, USG’s in-house legal counsel, added: “SNR Denton’s deep understanding of the mining sector in Oman and legal and practical issues involved with mining, manufacturing and distribution joint ventures in Oman and the wider Gulf has helped us to bring our discussions with Zawawi Minerals to a successful conclusion.”
SNR Denton’s team was led by Paul Sheridan in Muscat and included Rachel Oxby, Ahmed Al-Barwani and Andrew Steele also from SNR Denton’s Muscat office as well as Iain Black and Simar Berrached from the firm’s Dubai office.
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