K&A successfully advised Saudi Aramco on its 50/50 joint venture with energy technology firm Baker Hughes to establish an industrial project that will develop a broad range of non-metallic products for multiple applications in the energy sector. The newly formed joint venture will be named Novel.
Novel’s new plant will be constructed at King Salman Energy Park (SPARK) in the Eastern Province of the Kingdom. The JV aligns with Saudi Arabia’s efforts to expand its commercial ecosystem and promote domestic investment, in alignment with Saudi Arabia’s Vision 2030.
The K&A team was led by Managing Partner Zeyad Khoshaim, Corporate Partner Leen Zaza, Projects & Finance Counsel Hamdan van den Brule, and supported by associates Ghadah AlOtaibi, Dana AlDhuwaihi, Omar AlHarbi, and Hawa Aba-AlKhail.
This transaction comes on the heels of K&A having been named Saudi Arabian Law Firm of the Year by IFLR Middle East Awards, winning Equity Deal of the Year, and Domestic Deal of Year.