www.businesstoday.com
Industry
Edited by : AL CIRCLE
2 min read
The aluminum market in the GCC region is projected to reach US$3bn by 2015, led by growth of the building construction sector and rising population, according to a recent study. Sohar Aluminium, the sultanate’s only aluminium producer, is likely to cash in on the boom. The study, conducted by Abu Dhabi-based Ventures Middle East, claims that Saudi Arabia, UAE, Qatar and Kuwait are the main markets driving the region’s growth.
Investments in the GCC aluminum industry are expected to reach US$55bn by 2022, driven by new factories and projects, according to Ventures Middle East’s April 2011 GCC Aluminum Industry Report. “Aluminium demand is expected to grow sharply in the next few years and in order to meet this growth, Sohar Aluminium is gearing itself up by gradually ramping up amperage to 400kA which will eventually equate to an additional 30,000 tonnes of aluminium per annum.
On the expansion side, there have been informal discussions. The discussions are gaining momentum but we don’t expect a decision before the summer of 2011,” says Henk Pauw, CEO of Sohar Aluminium. He added that that the plant’s phase II will not only provide a favourable advantage for the long-term sustainability of the smelter, but also create more new jobs.
Investments in the GCC aluminum industry are expected to reach US$55bn by 2022, driven by new factories and projects, according to Ventures Middle East’s April 2011 GCC Aluminum Industry Report. “Aluminium demand is expected to grow sharply in the next few years and in order to meet this growth, Sohar Aluminium is gearing itself up by gradually ramping up amperage to 400kA which will eventually equate to an additional 30,000 tonnes of aluminium per annum.
On the expansion side, there have been informal discussions. The discussions are gaining momentum but we don’t expect a decision before the summer of 2011,” says Henk Pauw, CEO of Sohar Aluminium. He added that that the plant’s phase II will not only provide a favourable advantage for the long-term sustainability of the smelter, but also create more new jobs.
Previous article
China Henan Sanmenxia delays restart of idled aluminum capacity
Next articleNalco to set up Rs 274 Cr wind power project in AP
Grow with
AL Circle
