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EGA signing the agreement with Sunstone

EGA signs deals that could bring $270m in investments to UAE

ABU DHABI, June 1, 2023

Emirates Global Aluminium, the largest industrial firm in the UAE outside oil and gas, has signed agreements at the Make it in the Emirates Forum that could lead to over AED1 billion ($270 million) of industrial investments to the UAE.
 
The memorandums of understanding were signed in the presence of Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, by Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, and senior leaders of the potential investor companies.
 
EGA and China’s Sunstone signed a deal that could lead to the development of a new carbon anode manufacturing facility in the UAE. Carbon anodes are consumed in the aluminium smelting process. Sunstone is the largest producer of carbon anodes in China.
 
Substituting imports
EGA produces some 1.2 million tonnes of carbon anodes every year at its own carbon plants in Jebel Ali and Al Taweelah, but the remainder of the company’s need is currently imported. Production from the new carbon anode manufacturing facility in the UAE would entirely replace these imports, and additional capacity could supply other aluminium smelters in the Middle East.
 
Kalban said: “EGA is at the heart of one of the UAE’s most important industrial sectors, and we are committed to growing our economic contribution further in line with Operation 300bn, including by using our demand to localise our supply chain. These agreements are progress towards that goal, and I look forward to the development of these new industrial facilities in the UAE, creating jobs and contributing to prosperity.”
 
Lang Guanghui, Chairman of Sunstone said: “The UAE is a strategic location for industrial investment, with industrial champion companies like EGA and access to the wider Middle East region. We look forward to progressing this project, growing our international operations and contributing to the UAE’s economy.”
 
Deal with India's VCI
EGA also signed a memorandum of understanding with VCI, an Indian disinfectant and carbo-chemicals producer, that could lead to the development of a pitch melting and processing facility in the UAE. This facility would be the first of its type in the region.
 
Liquid pitch is a raw material in the production of carbon anodes for aluminium smelting and is also increasingly used in the manufacture of batteries for electric vehicles.-- TradeArabia News Service
 



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