Dubal And Emal In Big Merger

Published on Wednesday, 05 Jun 12:47 pm

Abu Dhabi and Dubai have joined forces to merge their aluminum manufacturing facilities into the Emirates Global Aluminum (EGA), which will become the world's fifth-largest company. It all happened after Abu Dhabi’s Mubadala Development Company acquired a 50% stake in Dubai Aluminum (Dubal), based in Jebel Ali.

Mubadala, which jointly owns with Dubal an Abu Dhabi-based smelter Emirates Aluminum (Emal) located in Khalifa Industrial Zone in Taweelah, purchased the stake to expand its market share and in return got a ‘win win’ deal to benefit the economy.

With this new development in aluminum sector, Mubadala and Investment Corporation of Dubai (ICD) would have equal share of 50% in the Emirates Global Aluminum, which will look for local as well as international expansions. The agreement signed on Monday unifies the Jebel Ali and Taweelah smelter assets, as well as interests in Guinea Alumina Corporation and Cameroon Alumina Limited. The new company will start its operations within the first half of 2014.

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