UAE to develop aluminium sector

The UAE further boosted its aluminium sector last week when the Ministry of Economy met with representatives of Dubai Aluminium Co (Dubal) and a delegation from Russia.

The delegation discussed the strengthening of bilateral relations between the two countries, including intensifying bilateral commercial, industrial and agricultural trade to ensure food security and improve the role of the UAE in the World Trade Organisation (WTO) with the full support of Russia, and enhancing the functions of the UAE-Russian Economic Council.

Meetings kicked off with talks between the ministry and Dubal.

The UAE's Minister of Economy HE Sultan Bin Saeed Al Mansouri and the Dubal delegation, headed by Abdullah Jasim bin Kalban, CEO of Dubal, discussed the status of the country's aluminium sector as well as expansion plans and projects to boost the industry both at UAE and Gulf levels.

"The aluminium industry is a vital component of our country's economic diversification initiatives, and generates around 12% of total global supply," said the minister.

"Several projects are in fact underway to establish the UAE as an aluminium production hub," he continued.

"Aluminium is a highly strategic sector since it provides various job opportunities; we are thus committed to further enhancing this and other components of the industrial sector, which we believe is essential to attaining sustained economic growth.

The meeting also covered the emergence of the aluminium sector as a major contributor to the UAE's GDP after oil, and how the metal products industry in general has received US$2.04bn in investments with around 75 companies operating within the field as of 2007.

Dubal alone produces around 900,000 tonnes of aluminium annually and is expected to generate around a million tonnes by 2010.

Al Mansouri, who received the delegation - led by senator Oleg Shurdumov, first deputy head of the Federation Council Committee - discussed finding solutions to surging inflation and the scarcity and rising prices of basic food commodities.

He also put forward the strengths and weaknesses of the construction materials sectors of both nations.