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UAE and GCC nations investment plans in next 12 years
Edited by : AL CIRCLE
1 min read
According to the Doha-based Gulf Organization for Industrial Consulting (GOIC), the UAE and other GCC nations are expected to pump nearly $25 billion into new aluminium projects and expansion of their existing smelters in the next 12 years.
About $eight billion will also be pumped by Emal while more expansions are on the cards in Dubai and Bahrain, where the region’s first smelters were set up.
Saudi Arabia, the world’s dominant oil exporter, is also planning to set up a $3.8-billion smelter while Oman has completed its first aluminium plant in Sohar.
In a study on aluminium projects in the GCC, GOIC said regional states need to push ahead with such projects to face a rapid rise in domestic demand because of massive infrastructure projects. External demand for their products is also expected to surge as global consumption will likely pick up in the near future following a slowdown due to the 2008 global fiscal crisis.
About $eight billion will also be pumped by Emal while more expansions are on the cards in Dubai and Bahrain, where the region’s first smelters were set up.
Saudi Arabia, the world’s dominant oil exporter, is also planning to set up a $3.8-billion smelter while Oman has completed its first aluminium plant in Sohar.
In a study on aluminium projects in the GCC, GOIC said regional states need to push ahead with such projects to face a rapid rise in domestic demand because of massive infrastructure projects. External demand for their products is also expected to surge as global consumption will likely pick up in the near future following a slowdown due to the 2008 global fiscal crisis.
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