Adbic, Gulf Ex ink $100m aluminium plant deal
Abu Dhabi, November 17, 2009
Abu Dhabi Basic Industries Corporation (Adbic) has signed a deal with Gulf Extrusions Company, one of the largest manufacturers of Aluminium Extrusion Products, to establish an aluminium extrusion plant at an investment of over $100 million in Taweelah.
Adbic, an industrial development and investment company created to facilitate the expansion of sustainable industry in Abu Dhabi, said the move is aimed at building on its strategy to develop a sustainable industrial base in Abu Dhabi.
The MoU was signed by Jamal Al Dhaheri, chief executive officer of Adbic, and Majid Al Ghurair, executive chairman of Gulf Extrusions.
The construction is expected to begin in the third quarter of 2010 at the Khalifa Port and Industrial Zone in Taweelah, said Al Dhaheri.
'The plant will produce 50,000 tons per annum (tpa) of aluminium extrusion and extrusion-based niche-oriented products, such as high-end architectural systems and automotive and engineering extrusions, using environmentally-friendly processes.'
Aluminium billets and liquid aluminium metal will be sourced from the adjacent 718,000 tpa Emirates Aluminium (EMAL) smelter, currently under construction in Taweelah, Abu Dhabi.
“We are very pleased to be partnering with Gulf Extrusions. Our collaboration serves to reinforce ADBIC’s focused efforts to expand the downstream manufacturing sector in Abu Dhabi. This partnership will position the UAE as a leading exporter of aluminium extrusions to international markets,” Al Dhaheri remarked.
According to Al Ghurair, the joint venture is strategically important for Gulf Extrusions in its quest to become a world leader in the aluminium extrusions business.
“This partnership brings together the technical expertise of one of the region’s largest manufacturers of aluminium extrusions with the experience of a leading industrial investment company in the region,” he added.
Following the launch of United Cables Company earlier this year, the new Aluminium Extrusion plant will be the second aluminium downstream project promoted by Adbic in a series of projects that will be based on the metal produced by Emal.-TradeArabia News Service