Commercial Bank of Dubai, Emirates NBD, Mashreq and Standard Chartered acted as the joint lead arrangers and bookrunners for the deal.
A revolving credit facility is a line of credit extended by lenders which can be drawn upon at any time at the borrower’s discretion. Revolving credit facilities are used by complex businesses to enable the efficient management of cash flow and liquidity.
Contacts at EGA:
056 3111 536
Emirates Global Aluminium is equally-owned by Mubadala Investment Company of Abu Dhabi and the Investment Corporation of Dubai.
It is the largest industrial company in the United Arab Emirates outside the oil and gas industry, and the largest company jointly owned by the two Emirates.
EGA is an integrated aluminium producer, with operations from bauxite mining to the production of cast primary aluminium. EGA operates aluminium smelters in Jebel Ali and Al Taweelah, an alumina refinery in Al Taweelah and a bauxite mine and associated export facilities in the Republic of Guinea.
EGA’s aluminium is the second largest made-in-the UAE export after oil and gas. In 2018, EGA produced 2.6 million tonnes of cast metal. EGA is the only UAE producer and makes the UAE the fifth largest aluminium producing nation in the world.
EGA has more than 350 customers in over 60 countries. Over 80 per cent of EGA’s production is value added products, one of the highest proportions of any aluminium company in the world.
EGA’s aluminium is primarily used in the construction, automotive, packaging, aerospace and electronics industries.
Over 10 per cent of EGA’s aluminium production is sold in the UAE to around 26 downstream aluminium companies that make products with EGA’s aluminium. The growing broader aluminium sector in the UAE supports 60,950 jobs. EGA itself employs over 7,000 of these people including almost 1,200 UAE Nationals.
EGA has focused on technology development for over 25 years. EGA has used its own technology for every smelter expansion since the 1990s and has retrofitted all its older production lines. In 2016 EGA became the first UAE industrial company to licence its core industrial process technology internationally.
As a corporate citizen of the UAE, EGA aspires in all its operations to be measured amongst the world’s leading metals and mining companies in meeting its environmental and social responsibilities. In 2017, EGA became the first Middle East headquartered company to join the Aluminium Stewardship Initiative, a global programme to foster greater sustainability and transparency in the aluminium industry. In 2019, EGA’s Al Taweelah site became the first in the Middle East to receive certification from ASI for its sustainability practices and performance. ASI certification is the aluminium industry’s internationally recognised standard for environmental and social performance and governance.
EGA was formed in 2014 through the merger of Dubai Aluminium and Emirates Aluminium.
EGA’s Jebel Ali aluminium smelter began production as DUBAL in 1979. At almost five square kilometres, this site is five times bigger than Dubai Mall.
EMAL started production in 2009 and its Al Taweelah aluminium smelter was the largest single-site aluminium smelter in the world when completed. EGA’s Al Taweelah site is five times bigger than Al Maryah Island at six square kilometres.
EGA has its own power stations at both sites, producing electricity to meet its needs. EGA’s electricity generation capacity is 5,450 megawatts, making EGA the third largest electricity generator in the UAE after the Dubai and Abu Dhabi utilities. EGA also produces water through desalination units at its power plants.
EGA began production at Al Taweelah alumina refinery in April 2019. EGA’s alumina refinery is the first in the UAE and only the second in the Middle East. The project reduces the UAE’s dependence on imported alumina and will supply 40 per cent of EGA’s needs once fully ramped-up.
Bauxite exports from Guinea Alumina Corporation, EGA’s wholly-owned subsidiary in Guinea, began in August 2019. The GAC project is one of the largest greenfield investments in Guinea in over 40 years.
For more information on EGA please visit www.ega.ae.
© Press Release 2020