DUBAI - Emirates Global Aluminium (EGA) and ITOCHU Corporation of Japan today signed an agreement to explore joint projects in the UAE, which would advance the goals of the nation's Operation 300bn industrial growth strategy.
EGA's relationship with ITOCHU stretches back to the 1980s, with the Japanese company marketing EGA's metal to customers in Japan and Japanese companies' operations abroad.
The two companies have now agreed to explore expanding this cooperation to leverage both industrial capabilities in opportunities that complement EGA's existing operations in the UAE.
Potential projects include some that would be new industrial activities in the UAE, such as the further processing of EGA's metal to produce super-high purity aluminium for specialised applications and the recycling of copper used in EGA's production process. The two companies will also explore cooperation in Industry 4.0 projects and the development of new aluminium alloys with third parties for niche applications.
EGA and ITOCHU will also consider working together on EGA's already-announced projects to develop the UAE's largest aluminium recycling facility and a plant to produce silicon metal, a raw material for “premium aluminium”.
Abdulnasser bin Kalban, Chief Executive Officer of EGA, said, "EGA and ITOCHU have worked together for decades, and we are pleased to now explore how we can expand this relationship to new industrial activities and opportunities here in the UAE that would add value to our businesses. To more than double the size of the UAE's industrial sector by 2031, our nation needs to develop new industrial capabilities. Working in partnership with other global companies like ITOCHU will help EGA accelerate our contribution to Operation 300bn."
Kenji Seto, Executive Officer and President, Metals & Minerals of ITOCHU, stated, "ITOCHU and EGA have a strong partnership, and we are pleased to now be exploring joint projects in the UAE with the largest premium aluminium' producer in the world. We aim to leverage each company's strengths to progress these projects and create value for us both and the UAE as a nation."