Abu Dhabi-based Emirates Aluminium (EMAL) has received approval
from its board for a $4.5bn investment that will almost double the aluminium
smelter’s annual capacity, the company said on Sunday.
Capacity will rise to 1.3 million metric tonnes on
completion of its planned phase II project, the state-owned firm said.
EMAL is a 50-50 joint venture between Dubai Aluminium
Company Ltd (Dubal) and Mubadala Development Co Mubadala), Abu Dhabi’s investment
vehicle.
“Phase II will equip EMAL to grow the global customer
base we have already established,” said Saaed Fadhel Al Mazrooei,
President and chief executive of EMAL.
The company, which supplies customers in 36 countries, first
started production from its $5.7 billion project located at Al Taweelha in Abu
Dhabi in January 2010.
The Phase II project will involve construction of a new
potline within the EMAL complex at Al Taweelah in the oil rich emirate of Abu
Dhabi. EMAL will also upgrade the technology installed in the phase I project,
it said.
The firm expects to complete the second phase in 2013-2014.
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