Abu Dhabi Ports has signed a 50-year Musataha Agreement with Emirates Aluminium Rolling (Emiroll), to set up a manufacturing plant with a total investment of Dh440 million ($120 million) in Khalifa Industrial Zone (Kizad).
Emiroll a joint venture between Dubal Holding, Dubai Investment Industries, a subsidiary of Dubai Investments, and Madar Aluminium Rolling Singapore (MARS).
Emirates Global Aluminium (EGA), an existing investor in Khalifa Industrial Zone, will provide Emiroll with raw molten aluminium to produce aluminium rolled products, further boosting the UAE’s aluminium downstream industries to meet global demand and contribute to Abu Dhabi’s economic diversification plan.
The agreement was signed on behalf of Emiroll, by Abdulnasser Bin Kalban, CEO of Dubal Holding, and Mana Al Mulla, CEO of Khalifa Industrial Zone Abu Dhabi.
Expected to go on-stream by the third quarter of 2017, the new plant on the 83,554.58 sq m plot will produce 65,000 tonnes of aluminium coils per annum, including 45,000 tonnes of cold-rolled and 20,000 tonnes of hot-rolled aluminium for applications in downstream industries, such as...Read more...