Emal mulls huge investment to ramp up production

14 December 2011: Emirates Aluminium, or Emal, a JV between Abu Dhabi’s Mubadala and Dubai Aluminium, plans to invest $3.8 billion (approx Rs.20,212 crore) for its phase two development as it ramps up production to become the single largest greenfield smelter in the world.

German companies are actively involved in building Emal’s facilities with 23 German firms securing contracts worth $243 million (approx Rs.1260 crore) in the first phase. In the second phase, German companies have already bagged contracts worth $184 million (approx Rs.979 crore). The company has received loan facilities of $220 million (approx Rs.1,170 crore) from the German Export Credit agency.

Source: Khaleej Times