Mubadala is continuing with aggressive overseas expansion plans, announcing JV with 1 Malaysia Development for the construction of USD 4 billion aluminum plant in the South East Asian country.
Mubadala has an impressive track record of forming successful JV having recently completed a smelter in Abu Dhabi with Dubai Aluminium.
Mr Waleed al Muhairi COO of Mubadala when speaking about his firm’s intentions to invest further in the aluminium sector reinforced why companies from the Emirates are investing heavily in aluminium developments at home and abroad and why they will continue to do so.
Mr al Muhairi said that "Aluminum is a core sector. We are extremely happy with the success of that investment so we plan to invest further as opportunities arise. We want to invest in aluminium smelters in places that have similar advantages to Abu Dhabi with competitive energy costs and good logistics.”
According to aluminium dedicated website The Aluminum Association, the global market for aluminium is projected to reach nearly 51 million tonnes by the year 2012.
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