Gulf-Times.com
Gulf set to become global aluminium destination
Edited by : AL CIRCLE
2 min read
The Gulf Cooperation Council (GCC) region’s aluminium industry is set to contribute 10%-11% of global output, thus growing to the stature of global aluminium destination, next to oil wealth, according to Frost & Sullivan.
The GCC possesses some great advantages such as low power cost and gas prices, favourable logistics owing to well connected airports and sea ports to all global destinations and skilled manpower supply from Asian neighbours sustaining over four decades to provide knowledge transfer to the local manpower adding to their employment opportunities, it said.
“GCC smelters are now actively engaged in downstream development to instigate local demand and value addition to primary aluminium production,” Frost & Sullivan said.
Another advantage to the GCC down stream industry is the availability of liquid metal which provides further competitive edge on production costs over other international players, according to its report.
This is also appropriately supported by the respective governing ministries to promote the aluminium industries’ development by facilitating rapid clearance and awarding subsidies for the green field projects, it said. Earlier a report by Ventures Middle East had estimated Qatar’s demand for fabricated aluminum products to grow by an average 12% during the next four years to reach $436mn by 2015 in view of the buoyancy in the construction market.
Property development in Qatar is expected to witness tremendous growth following the country winning the bid to host the FIFA World Cup in 2022, according to various reports.
The construction boom in Qatar has also boosted the country’s aluminium sector with demand for fabricated aluminium products in the construction industry expected to increase at a CAGR of 12% from $252mn in 2010 to $436mn in 2015.
The GCC possesses some great advantages such as low power cost and gas prices, favourable logistics owing to well connected airports and sea ports to all global destinations and skilled manpower supply from Asian neighbours sustaining over four decades to provide knowledge transfer to the local manpower adding to their employment opportunities, it said.
“GCC smelters are now actively engaged in downstream development to instigate local demand and value addition to primary aluminium production,” Frost & Sullivan said.
Another advantage to the GCC down stream industry is the availability of liquid metal which provides further competitive edge on production costs over other international players, according to its report.
This is also appropriately supported by the respective governing ministries to promote the aluminium industries’ development by facilitating rapid clearance and awarding subsidies for the green field projects, it said. Earlier a report by Ventures Middle East had estimated Qatar’s demand for fabricated aluminum products to grow by an average 12% during the next four years to reach $436mn by 2015 in view of the buoyancy in the construction market.
Property development in Qatar is expected to witness tremendous growth following the country winning the bid to host the FIFA World Cup in 2022, according to various reports.
The construction boom in Qatar has also boosted the country’s aluminium sector with demand for fabricated aluminium products in the construction industry expected to increase at a CAGR of 12% from $252mn in 2010 to $436mn in 2015.
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