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Mubadala in JV for new smelter in Malaysia
Edited by : AL CIRCLE
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Abu Dhabi's Mubadala Development and state-owned development firm 1Malaysia Development have agreed to form a joint venture to develop a $4.2bn (Dhs15.4bn) aluminium smelter in east Malaysia, Dow Jones has reported. As part of the deal, Mubadala will also help 1Malaysia Development team up with other strategic partners to develop downstream industries including a rolling mill, a wire cabling plant, a wheel casting plant and up to 10 extrusion plants costing an additional $1.8bn.
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