India's Largest Database on New Projects
Garmco exits Oman rolling mill JV
10 August 2010: Gulf Aluminium Rolling Mill (Garmco) has reportedly exited a JV with Abu Dhabi Water and Electricity Authority (Adwea) and Takamul Investments, which planned a $350 million (approx Rs 1,610 crore) aluminium rolling mill project at Sohar in Oman. The Garmco shareholders have opted not to participate in the Oman project. Takamul and Adwea will now go ahead with the project without Garmco’s involvement. The shareholders do not want to invest money outside of Bahrain and Garmco will now focus on expanding our existing rolling mill.
Source: Ameinfo