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Kurri Kurri Aluminium Smelter site sold
Renewable energy business Norsk Hydro ASA has been advised on the sale of its 2,000 hectare Aluminium Smelter site in Kurri Kurri, NSW.
Jerome Doraisamy
Firm: Gilbert + Tobin (Norsk Hydro); unknown (Flow Systems).
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Deal: The Kurri Kurri Aluminium Smelter site has been sold by Norsk Hydro to Flow Systems, as part of Hydro’s $150 million ‘Regrowth Kurri Kurri Project’.
Area: Environment, Planning and Climate Change
Value: Unknown
Key players: Partners Ben Fuller and Amanda Hempel led the G+T team and were assisted by lawyers Jo Bayes and Tanja Mikulic.
Deal significance: Commenting on the deal, Mr Fuller said: “This was a complex divestment from an environment and planning perspective. Parts of the site had been used for aluminum smelting since the late 1960s – and all of the key approval pathways for the remediation, rezoning and bio-certification of the site are ongoing.”
“We had to structure the transaction documents to achieve the parties’ commercial objectives, but also their mutual commitment to sustainable economic and environmental values. Our overarching objective was to provide a platform to satisfy the regulators in relation to the long-term environmental management of the site,” he said.
Ms Hempel added: “The transaction documentation was complex in order to address the medium-term staged handover of the site, with regard to rezoning and remediation, and the longer-term handover and management of the environmental aspects of the site.”
