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NEW S IN BRIEF
Mubadala and ICD establish Emirates Global Aluminium
In a move that will form a new industrial giant
in the United Arab Emirates, Mubadala
Development Company of Abu Dhabi and the
Investment Corporation of Dubai (ICD) have
announced the creation of Emirates Global
Aluminium – a jointly-held, equal-ownership
company that will integrate the businesses
of Dubai Aluminium (Dubal) and Emirates
Aluminium (Emal) – with plans for significant
local growth and international expansion.
Pending required approvals, the formal commencement
of joint operations is expected to
be completed within the first half of 2014.
Emirates Global Aluminium will be the
fifth largest aluminium company by production
when Phase II of Emal is completed mid-
2014, and will serve over 440 customers in 55
countries, with a joint production capacity of
2.4m tpy of aluminium on the completion of
Emal Phase II.
The accord builds on a successful partnership
that started with the formation of Emal in
2006, a joint venture of Mubadala and Dubal.
Emirates Global Aluminium will have an aggregate
enterprise value of more than USD15
billion and will be the fifth-largest global aluminium
company by production once Emal
Phase II is complete in the first half of 2014.
Building on the heritage of Emal and Dubal,
the new company will look to expand along
the value chain, from aluminium smelting to
alumina refining and bauxite mining overseas.
Given its scale, Emirates Global Aluminium
will also continue to attract downstream manufacturing
and ancillary businesses related to
aluminium smelting and alumina refining as it
grows, thereby indirectly creating additional
jobs.
Emirates Global Aluminium will be managed
by a board of directors that will be chaired
by H. E. Khaldoon Khalifa Al Mubarak, current
chairman of Emal, while H. E. Saeed Mohammed
Ahmed Al Tayer, vice-chairman of
Dubal, will become its vice-chair. The board
will also include H. E. Sultan Al Jaber, Abdulla
Kalban, Khaled Al Qubaisi, Ahmed Yahia Al
Idrissi, Abdul Wahed Mohammad Al Fahim;
and Khalid Al Bakhit.
The new company will be led by two wellestablished
leaders in the UAE, both veterans
in the aluminium industry. Abdulla Kalban,
president and CEO of Dubal with 28 years
of experience, will be managing director and
CEO; and Saeed Al Mazrooei, president and
CEO of Emal and leader of its rise in the industry,
will become CEO of UAE Operations.
“The creation of a new global industrial champion
anchored in the UAE is an important
step towards realising our vision for a diversified
and sustainable economy. It is especially
inspiring that UAE technology contributed to
the success of this business and that it will continue
to be led by UAE Nationals as it grows
locally and globally,” said Al Mubarak, CEO
of Mubadala. “Emirates Global Aluminium
will build on strong foundations of leadership,
to become a major industrial champion
and engine of economic development for our
people.”
H. E. Mohammed I. Al Shaibani, the CEO
of ICD, said: “Today’s announcement builds
on what these two outstanding organisations
have created and reflects the UAE’s long-term
industrial strategy. Emirates Global Aluminium
will accelerate employment with 2,000
direct jobs being created by 2020 adding to
more than 6,200 direct jobs already in existence.
We also conservatively estimate that a
further 6,000 indirect jobs will be generated,
delivering total employment of over 33,000
people by the UAE aluminium sector through
the end of this decade.”
The agreement signed by Mubadala and
ICD unifies the Jebel Ali and Taweelah
smelter assets as well as interests in Guinea
Alumina Corp. and Cameroon Alumina Ltd.
© Emal
Emal celebrates installation
of steel structure
for Phase II potline
Emirates Aluminium (Emal) has recently celebrated
the installation of the final steel structure
for the potline of its Phase II expansion.
With the last of 120 specially designed steel
All the major civil and mechanical work on the world’s longest single potline of 1.7 km is now complete
structures now in place, all the major civil
and mechanical work on the world’s longest
single potline of 1.7 km is now complete and
Emal remains on target to deliver its ambitious
expansion plans.
The first steel structure was raised in July
last year, which means that completion was
within the anticipated target of 12 months. The
project was also completed without a single
Lost Time Injury (LTI) – the industry standard
for measuring success in health and safety.
Emal’s Phase II expansion project will increase
primary aluminium production to 1.3
million tonnes a year by the end of 2014, from
today’s 800,000 tonnes a year. Early works
on the estimated USD4.5 billion Phase II expansion
began early in 2011, making Emal one
of the largest industrial projects in the United
Arab Emirates outside oil and gas and one of
the key projects leading to the diversification
of the UAE’s economy.
Emal has created 2,000 jobs with Emiratisation
at the core of its employment strategy,
which will rise to approximately 3,000 upon
completion of Phase II.
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