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Emal begins initial work of Phase 2 expansion at Al Taweelah facility
Edited by : AL CIRCLE
1 min read
Emirates Aluminium (Emal) has commenced initial work of Phase 2, with plans to reach full construction work by end of year, Yousuf Bastaki, Project Director at Emal, told Gulf News in an interview Tuesday.
Emal announced Tuesday that its board had approved a $4.5 billion (Dh16.51 billion) investment that seeks to almost double the Al Taweelah-based facility's production capacity to about 1.3 million metric tonnes a year by the end of 2014.
"Finalisation of the overall terms and conditions for financing of Phase 2 is still being negotiated, and expected to be concluded soon," he added. Emal, which is on track to produce 750,000 tonnes of aluminium this year, is a $5.7-billion joint venture between Dubai Aluminium and Abu Dhabi's Mubadala Investment Company and was established in February 2007 to construct what will become the world's largest single-site aluminium smelter complex.
Emal announced Tuesday that its board had approved a $4.5 billion (Dh16.51 billion) investment that seeks to almost double the Al Taweelah-based facility's production capacity to about 1.3 million metric tonnes a year by the end of 2014.
"Finalisation of the overall terms and conditions for financing of Phase 2 is still being negotiated, and expected to be concluded soon," he added. Emal, which is on track to produce 750,000 tonnes of aluminium this year, is a $5.7-billion joint venture between Dubai Aluminium and Abu Dhabi's Mubadala Investment Company and was established in February 2007 to construct what will become the world's largest single-site aluminium smelter complex.
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