Business & Finance

UAE's emal gets approval for $4.5bn investment

DUBAI : Abu Dhabi-based Emirates Aluminium (emal) has received approval from its board for a $4.5 billion investment tha

Published July 24, 2011 Updated July 24, 2011 11:42am

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By Imad Uddin

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Capacity will rise to 1.3 million metric tonnes on completion of its planned phase II project, the state-owned firm said.

EMAL is a 50-50 joint venture between Dubai Aluminium Company Ltd (Dubal) and Mubadala Development Co Mubadala), Abu Dhabi's investment vehicle.

"Phase II will equip emal to grow the global customer base we have already established," said Saaed Fadhel Al Mazrooei, President and chief executive of emal.

The company, which supplies customers in 36 countries, first started production from its $5.7 billion project located at Al Taweelha in Abu Dhabi in January 2010.

The Phase II project will involve construction of a new potline within the emal complex at Al Taweelah in the oil rich emirate of Abu Dhabi. emal will also upgrade the technology installed in the phase I project, it said.

The firm expects to complete the second phase in 2013-2014.

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