WAM reported that Abu Dhabi Basic Industries Corporation an industrial development and investment company wholly owned by the Abu Dhabi Government's General Holding Corporation and Gulf Extrusions, an Al Ghurair Group company has signed JV agreement to set up Taweelah Aluminum Extrusion Company in Abu Dhabi. The JV was signed by Mr Jamal Salem Al Dhaheri CEO of ADBIC and Mr Majid Al Ghurair CEO of Al Ghurair Group of Companies.
Taweelah Aluminum Extrusion Company will invest USD 200 million in setting up a state of the art Aluminum Extrusion plant which will be the first of its kind in the MENA region and also the first industrial project to be launched in Khalifa Industrial Zone Abu Dhabi after the Emirates Aluminum smelter.
Kizad, with its massive 417 square kilometers of prime industrial land and world class facilities is conveniently located between Abu Dhabi and Dubai, and is a statement of intent by the Government of Abu Dhabi, creating a wealth of opportunities on a global scale. This 50,000 tonnes facility will be built on 235,000 square meters plot of land adjacent to EMAL smelter one of the largest Greenfield aluminum smelter ever built and one of the largest industrial projects in the UAE outside the oil and gas sector. The feedstock of liquid aluminum and aluminum billets will be supplied by EMAL.
Taweelah Aluminum Extrusion Company will invest in world class extrusion equipment and will produce a diversified product range of aluminum extruded profiles, fabricated profiles as well as substructures and systems. The product range will be unique for any extruder in the region as it will cater to the industrial automotive and transportation sectors as well as to the top end building and construction projects, meeting the most stringent standards of local regional and international customers.
Mr Jamal Al Dhaheri CEO of ADBIC said that "This project with a strong and well established UAE Group puts UAE generated know how and manufacturing excellence on the international map and will unlock new international markets. This is one of a series of industrial projects by ADBIC and an example of the public private partnership model pursued by us. I look forward to a successful long term partnership with Al Ghurair Group and will continue to build on this foundation with EMAL and Khalifa Industrial Zone Abu Dhabi to attract investments, promote the industrial sector and diversify the economy in line with the directives and guidance of our esteemed leadership.”
Mr Majid Al Gurair CEO of Al Ghurair Group said that "We are excited to move forward with this new project as it is part of our ongoing thrust to expand into high-growth sectors. Gulf Extrusions will play a very important role in nurturing Taweelah Aluminum Extrusion Company to be a key industry player and in maintaining the high standards of excellence in the production of premium-quality aluminum products."
Mr Modar Al Mekdad GM of Gulf Extrusions said that "This JV underlines the immense growth potential of the Middle East's aluminum industry and likewise reaffirms our commitment to further strengthen the region's reputation as a leading supplier in the global market. A world class, state of the art facility such as Taweelah Aluminum Extrusion Company will be crucial in opening more business opportunities and creating new possibilities to cater to emerging demand in new markets. Gulf Extrusions is therefore eager to offer its technical expertise and in depth knowledge of the aluminum industry to help ensure the sustained growth and success of this joint venture."
(Sourced from WAM)
