ID :
11813
Mon, 07/07/2008 - 15:34
Auther :
Shortlink :
https://oananews.org//node/11813
The shortlink copeid
ADBIC, Midal to build US$100 million aluminium rod plant in Abu Dhabi
Abu Dhabi, July 7, 2008 (WAM) - Abu Dhabi Basic Industries Corporation(ADBIC), a leading industrial development company in Abu Dhabi, and Midal Cables Limited, one of the world's largest manufacturers of Aluminium rod and conductors, have signed a Memorandum of Understanding (MoU) aimed at establishing an Aluminium Rod plant in Taweelah, Abu Dhabi, with combined investment of approximately Dh368 million (US$100 million).
The MoU was signed by Jamal Al Dhaheri, Senior Vice President Metals, ADBIC, and HamidAl Zayani, Managing Director of Midal Cables.
Using 'state of the art' equipment imported from Europe and the USA, the plant will manufacture 150,000 tons per annum (tpa) of aluminium rods that will be converted locally into other value added products or supplied as feedstock to other downstream industries, with the balance to be exported, a press release said Sunday. Molten aluminium metal for the project will be sourced from the new 700,000 tpa Emirates Aluminium (EMAL) smelter currently under construction at Taweelah in Abu Dhabi. The plant will be ready to receive the first batch of molten metal from the EMAL smelter and commencecommercial production in 2010.
ADBIC is an industrial development and investment company created to facilitate the expansion of sustainable industrial activity in Abu Dhabi through the development of industrial clusters, the first such model in the UAE Midal Cables, which has over 30 years' experience in this field, will provide the technology and expertise for the project, as well as investmentcapital.
The MoU was signed by Jamal Al Dhaheri, Senior Vice President Metals, ADBIC, and HamidAl Zayani, Managing Director of Midal Cables.
Using 'state of the art' equipment imported from Europe and the USA, the plant will manufacture 150,000 tons per annum (tpa) of aluminium rods that will be converted locally into other value added products or supplied as feedstock to other downstream industries, with the balance to be exported, a press release said Sunday. Molten aluminium metal for the project will be sourced from the new 700,000 tpa Emirates Aluminium (EMAL) smelter currently under construction at Taweelah in Abu Dhabi. The plant will be ready to receive the first batch of molten metal from the EMAL smelter and commencecommercial production in 2010.
ADBIC is an industrial development and investment company created to facilitate the expansion of sustainable industrial activity in Abu Dhabi through the development of industrial clusters, the first such model in the UAE Midal Cables, which has over 30 years' experience in this field, will provide the technology and expertise for the project, as well as investmentcapital.
