ID :
68226
Mon, 06/29/2009 - 14:54
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Shortlink :
https://www.oananews.org//node/68226
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UAE's ADBIC, Bahrain's Midal Cables to establish $100m aluminium rod and conductor plant
Abu Dhabi, June 29, 2009 (WAM) - Abu Dhabi Basic Industries Corporation (ADBIC) and Bahrain's Midal Cables Limited on Sunday announced the establishment of a $100m aluminium rod and conductor plant during the signing of their joint venture agreement. The signing serves to reinforce the strategic partnership formed by the companies last year.
The joint venture agreement was signed by Senior Vice President for Metals at ADBIC Jamal Al Dhaheri, and Managing Director of Midal Cables Hamid Al Zayani.
Construction of the aluminium plant will begin in the first quarter of 2010 at Khalifa Port and Industrial Zone in Taweelah. The state-of-the-art plant will produce 150,000 tons per annum of aluminium products, including aluminium rod and aluminium electrical overhead conductors, to serve as feedstock to further Abu Dhabi's downstream industries and to be exported internationally.
The establishment of the aluminium plant is the first step towards the development of ADBIC's upcoming metals cluster, which will play a fundamental role in expanding Abu Dhabi's downstream manufacturing capacity in the metals sector. Strategically located between Abu Dhabi and Dubai, the cluster will focus on base metals such as aluminium, steel and copper.
ADBIC and Midal Cables yesterday also announced the signing of a Memorandum of Understanding (MoU) with Emirates Aluminium Company Limited (EMAL) aimed at sourcing molten aluminium, the plant's main feedstock, from their new smelter. By the second quarter of 2011, ADBIC's plant will be ready to receive its first batch of molten aluminium from EMAL.
The joint venture agreement was signed by Senior Vice President for Metals at ADBIC Jamal Al Dhaheri, and Managing Director of Midal Cables Hamid Al Zayani.
Construction of the aluminium plant will begin in the first quarter of 2010 at Khalifa Port and Industrial Zone in Taweelah. The state-of-the-art plant will produce 150,000 tons per annum of aluminium products, including aluminium rod and aluminium electrical overhead conductors, to serve as feedstock to further Abu Dhabi's downstream industries and to be exported internationally.
The establishment of the aluminium plant is the first step towards the development of ADBIC's upcoming metals cluster, which will play a fundamental role in expanding Abu Dhabi's downstream manufacturing capacity in the metals sector. Strategically located between Abu Dhabi and Dubai, the cluster will focus on base metals such as aluminium, steel and copper.
ADBIC and Midal Cables yesterday also announced the signing of a Memorandum of Understanding (MoU) with Emirates Aluminium Company Limited (EMAL) aimed at sourcing molten aluminium, the plant's main feedstock, from their new smelter. By the second quarter of 2011, ADBIC's plant will be ready to receive its first batch of molten aluminium from EMAL.
