A fully integrated aluminum industrial complex being built as a JV between Alcoa and Saudi Arabian Mining Company alone involves a capital investment of about USD 10.5 billion. More foreign investors are looking to the Gulf for aluminum business due to its inexpensive gas stocks and strategic geographic location with Europe already sourcing around 6% of its aluminum demand from the region.
The UAE and Saudi Arabia rank among the Gulf’s two biggest aluminum markets. Smelting operations managed by the Dubai Aluminum Company Limited and Emirates Aluminum in Abu Dhabi produce around 1.8 million tonnes of aluminum a year or 40% of total annual Middle Eastern production.
Mr Mahmood Daylami general secretary Gulf Aluminum Council said that “Aluminum has emerged as one of the key economic activities of the Arab World and complements region wide efforts to diversify national development beyond oil and gas.”
Last year EMAl commenced construction on Phase II of its USD 5.7 billion smelter project. A symbolic ground breaking ceremony marked the start of the Al Taweelah smelter’s Phase II with completion and full production planned to be reached in little more than 2 years.
This will boost EMAL’s total production capacity to around 1.3 million metric tonnes by the end of 2014, making EMAL one of the largest single site producers of primary aluminum in the world. EMAL’s board shareholders and other VIP guests visited the site to witness the first step in the USD 4.5 billion expansion.
Phase I was completed ahead of time and to budget with the company supplying 280 customers in 36 countries with high quality aluminum. Phase two will include the addition of a new potline and will result in the world’s longest ever single smelting line.
Mr Saeed Fadhel Al Mazrooei president and CEO of EMAL said that “When complete, EMAL will take its place as the largest and most advanced single site producers of primary aluminum in the world and one of the leading contributors to deliver a stable and prosperous Emirati future.”
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