11 NOVEMBER 2013www.constructionweekonline.com
Gulf's aluminium market worth $30bn, says analyst
Edited by : AL CIRCLE
1 min read
A slew of investments in the Gulf’s aluminium industry are currently worth around $30bn but are likely to grow to $55bn by 2020, according to Frost & Sullivan.
Venkatesan Subramanian, vice-president and leader of the research firm’s metals and minerals practice, said the Gulf is “poised to become a favoured destination and a global aluminium hub”, particularly as production levels are forecasted to fall in Europe and the United States.
Aluminium production is a power-intensive process and Subramain said the Gulf has significant advantages in having access to cheaper energy sources.
“This, coupled with availability of liquid and solid metal feed stock, land and above all great support by the respective Governments for investments (means) the aluminium industry is looking towards becoming a viable and attractive venue for creation of non-oil wealth in the Gulf region.”
Venkatesan Subramanian, vice-president and leader of the research firm’s metals and minerals practice, said the Gulf is “poised to become a favoured destination and a global aluminium hub”, particularly as production levels are forecasted to fall in Europe and the United States.
Aluminium production is a power-intensive process and Subramain said the Gulf has significant advantages in having access to cheaper energy sources.
“This, coupled with availability of liquid and solid metal feed stock, land and above all great support by the respective Governments for investments (means) the aluminium industry is looking towards becoming a viable and attractive venue for creation of non-oil wealth in the Gulf region.”
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