14 November 2016
Abu Dhabi Ports has signed a 50-year Musataha Agreement with Emirates Aluminium Rolling (Emiroll), a joint venture between DUBAL Holding, Dubai Investment Industries (a subsidiary of Dubai Investments PJSC) and Madar Aluminum Rolling Singapore (MARS), to set up a manufacturing plant with a total investment of AED 440 million on a 83,554.58 square metre plot in Khalifa Industrial Zone's downstream aluminium cluster.
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 H.E. Abdulnasser Bin Kalban, CEO of DUBAL Holding, and Mr. Mana Al Mulla, CEO of Khalifa Industrial Zone Abu Dhabi. Expected to go on-stream by the third quarter of 2017, the new plant 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 automotive body parts, roller-shutters, garage castings, container trays, cans and aerosols.
Mr. Mana Al Mulla, CEO of Khalifa Industrial Zone Abu Dhabi, commented: "Abu Dhabi Ports' collaboration with Emiroll aims to bolster the UAE's downstream industries and expand the reach of the Capital's export activities. This venture will see more rolled products be produced with the support of EGA and is a great example of local entities joining forces to support the government's vision of economic diversification and further position Abu Dhabi as a hub of integrated industrial excellence."
"In 2015, the UAE was ranked the world's fourth largest aluminium producer, accounting for over 50 per cent of the Gulf region's aluminium output. We are proud to have played a role in facilitating the production of such a valuable metal that is in high demand across the globe."
Abdulnasser Bin Kalban, Chief Executive Officer of DUBAL Holding and Chairman of Emiroll said: "Signing off the agreement with Abu Dhabi Ports for the long-term lease of the proposed plant site is a key milestone achieved within the agreed project timeline. I wish to congratulate the entire team for this significant achievement and also wish to thank the Abu Dhabi Ports management for their high-level professional support and necessary guidance. Emiroll is one of our projects aiming to boost the domestic consumption of EGA aluminium and thereby support the local economy through value addition, creation of more jobs locally and also support the promotion of an aluminium cluster in the UAE. I'm confident that Emiroll, once realised, will represent a shining example of cooperation among Emirati entities."