Abu Dhabi, 15 May 2011 (WAM) - Abu Dhabi Basic Industries Corporation (ADBIC), an industrial development and investment company wholly-owned by the Abu Dhabi Governments General Holding Corporation (GHC), and Gulf Extrusions, an Al Ghurair Group company, have signed a joint-venture (JV) agreement to set up Taweelah Aluminium Extrusion Company in Abu Dhabi. The Joint-Venture was signed by Eng. Jamal Salem Al Dhaheri, CEO of ADBIC and Mr. Majid Al Ghurair, CEO of Al Ghurair Group of Companies.
Taweelah Aluminium Extrusion Company will invest USD200 million in setting up a state-of-the-art Aluminium 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 (Kizad) after the Emirates Aluminium (EMAL) smelter. Kizad, with its massive 417 sqkm 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 metric tons facility will be built on a 235,000 square meters plot of land adjacent to EMAL smetler, one of the largest greenfield aluminium 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 Aluminium 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. "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." said Eng. Jamal Al Dhaheri, CEO of ADBIC. He added, "This is one of a series of industrial projects by ADBIC and an example of the publicprivate 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 (Kizad) to attract investments, promote the industrial sector, and diversify the economy in line with the directives and guidance of our esteemed leadership". Majid Al Gurair, CEO of Al Ghurair Group, said: "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 Aluminium Extrusion Company to be a key industry player and in maintaining the high standards of excellence in the production of premium-quality aluminium products."Modar Al Mekdad, General Manager, Gulf Extrusions, said: "This joint-venture underlines the immense growth potential of the Middle Easts aluminium 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 Aluminium 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 aluminium industry to help ensure the sustained growth and success of this joint venture."Copyright Emirates News Agency (WAM) 2011.
