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Dubal's strong growth to create jobs
Edited by : AL CIRCLE
2 min read
Dubai Aluminium's announcement of record growth in 2011 marks a positive step towards the diversification of the emirate's economy and the creation of jobs, analysts said yesterday.
They told Gulf News that Dubal's record 65 per cent leap in profits, clocking in at Dh3.51 billion in 2011 — as well as its 28.5 per cent year-on-year leap in gross sales revenue, bodes well for job creation for young Emiratis.
Niju V., Deputy Director, Automation and Electronics Practice, South Asia and Middle East, Frost & Sullivan, said the country has traditionally focused on financial services, tourism and trading, but Dubal's results showed that industrial manufacturing had an increasing role to play.
"The overarching objective is to provide gainful employment to the local population. This is also a positive outcome of the creation of new industries," he said.
Positive impact
In a recent report on aluminium production, research firm Deloitte said that the benefits of the aluminium sector in the UAE would be beneficial in providing jobs for Emiratis. UAE nationals already hold 65 per cent of senior management positions in Dubal, with the overall proportional representation of nationals being 15.4 per cent.
"The region's aluminum industry as a whole is conducive to investment given the availability and affordability of power and labour," Deloitte said. Dubal announced yesterday that it had produced 1,014,795 metric tonnes of hot metal in 2011, up from 135,000 metric tonnes per annum when it began production in 1979. But Abdullah J.M. Kalban, president and chief executive of Dubal, was also quick to stress the role of Emirates Aluminium in the positive results.
"Dubal's net profit was partly attributable to our company's share in the profits of Emirates Aluminium (Emal), which amounted to Dh622 million in 2011 during its first full year of production, whereas 2010 was still impacted by pre-operating expenses and costs that could not be capitalised contributing to the loss of Dh208 million," he said.
They told Gulf News that Dubal's record 65 per cent leap in profits, clocking in at Dh3.51 billion in 2011 — as well as its 28.5 per cent year-on-year leap in gross sales revenue, bodes well for job creation for young Emiratis.
Niju V., Deputy Director, Automation and Electronics Practice, South Asia and Middle East, Frost & Sullivan, said the country has traditionally focused on financial services, tourism and trading, but Dubal's results showed that industrial manufacturing had an increasing role to play.
"The overarching objective is to provide gainful employment to the local population. This is also a positive outcome of the creation of new industries," he said.
Positive impact
In a recent report on aluminium production, research firm Deloitte said that the benefits of the aluminium sector in the UAE would be beneficial in providing jobs for Emiratis. UAE nationals already hold 65 per cent of senior management positions in Dubal, with the overall proportional representation of nationals being 15.4 per cent.
"The region's aluminum industry as a whole is conducive to investment given the availability and affordability of power and labour," Deloitte said. Dubal announced yesterday that it had produced 1,014,795 metric tonnes of hot metal in 2011, up from 135,000 metric tonnes per annum when it began production in 1979. But Abdullah J.M. Kalban, president and chief executive of Dubal, was also quick to stress the role of Emirates Aluminium in the positive results.
"Dubal's net profit was partly attributable to our company's share in the profits of Emirates Aluminium (Emal), which amounted to Dh622 million in 2011 during its first full year of production, whereas 2010 was still impacted by pre-operating expenses and costs that could not be capitalised contributing to the loss of Dh208 million," he said.
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