Debevoise & Plimpton LLP has advised Ultra Group in the establishment of a joint venture with Sredneuralsk Copper Smelter (“SUMZ”), a subsidiary of Ural Mining Metallurgical Company, to form and operate an ammonium sulfate production plant with anticipated annual production volume of half a million tons of ammonium sulfate.
The joint venture is created with a 50/50 equity participation. The estimated volume of investments is 5.7 billion rubles (approximately $77 million). Design and construction is planned to be completed within three years.
The Debevoise team advising Ultra Group was led by Moscow based international counsel Maxim Kuleshov and included associate Elena Klutchareva.