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THE ECONOMY - INDUSTRY

Tabreed's profits rise to Dh34m on strong sales

Posted on 27/07/2007

District cooling provider Tabreed, posted a net profit of Dh34 million for the first half of 2007, up from Dh32.5 million over the same period last year. Tabreed's revenues are at Dh244.35 million compared to Dh231.46 million, representing an increase of 5.5 per cent over the same period in 2006. Profit from operations soared to Dh120.38 million compared to Dh105.6 million, approximately a 14 percent increase, over the same period in 2006. As of June 30, 2007, the company's total assets ...  >>MORE

Emal awards Dh500m deal

Posted on 27/07/2007

Finland-based mining and metallurgical equipment maker Outotec said yesterday it has won a 100 million euro (Dh500 million) order for an aluminium smelter being built in Abu Dhabi. The contract was awarded for $8-billion (Dh29.3bn) Emirates Aluminium Limited (Emal) smelter, a joint venture between Dubai Aluminium Company Limited and Mubadala Development Company. Contracts worth Dh1.6bn have been awarded so far. Outotec's scope of delivery covers the engineering, supply and installation of a ...  >>MORE

FERTIL signs US$ 240 million with Pakistani and Swiss companies

Posted on 21/07/2007

The Ruwais Fertilizer Industries (Fertil) today signed a contract for the Fertil Urea Plant Debottlenecking Project with Descon Engineering of Pakistan and Urea Casale of Switzerland. "We are talking about a major project, which would cost in total around 240 Million Dollars aimed further increasing he Urea Plant capacity by 50%," said Mr. Mohamed R. Al Rashid, Fertil GM Descon Engineering will cover the Engineering, Procurement, Construction and Commissioning of the Urea Plant in Ruwais, ...  >>MORE

GCC aluminium output to hit 3.75m tonnes

Posted on 03/07/2007

GCC's aluminium production capacity build up is likely to exceed 3.75 million tonnes per year by 2010 following the commissioning of new smelters and expansion of existing ones. While new aluminium production plants are expected to go on stream in Oman, Saudi Arabia and Qatar soon, Aluminium Bahrain (Alba) and Dubai Aluminium Company (Dubal), the region's industry pioneers, are on course to build up capacity. "With the world's major aluminium producing nations pondering the closure of smelters ...  >>MORE

Borouge services Chinese growth with expanded office in Puxi, Shanghai

Posted on 20/06/2007

Borouge, the leading provider of innovative plastics solutions in the Middle East, Asia Pacific and Africa, today announced that it moves its Shanghai office to Plaza 66 Tower 2 at Nanjing Xi Lu, located in the heart of Puxi, Shanghai, with effect from June 18 2007. This will support the company's fast growing business in the booming Chinese market, to which Borouge has been focusing on supplying value added products to the infrastructure, automotive and advanced packaging industries. ...  >>MORE

Dubal expects double exports to EU in 5 years

Posted on 11/06/2007

The Dubai Aluminium Company Limited (Dubal), the world's seventh largest producer of premium quality aluminium, is planning to more than double its export volume to the European and Mediterranean markets in the next five years, cashing in on the favourable demand position and other market conditions, explained Walid Al Attar, GM, Marketing & Sales, Dubal. The EU-GCC Free Trade Agreement, expected to be signed this year, will make European markets far more accessible to Dubal. Demand for ...  >>MORE

Borouge formally signs US$3.1 billion contracts for expansion project

Posted on 05/06/2007

Borouge, a leading provider of innovative, value creating plastics solutions, today formally signed contracts valued at approximately US$3.1 billion for Borouge 2, the major expansion project at the company's production facilities in Ruwais, Abu Dhabi in the United Arab Emirates. The contract with Tecnimont S.pA, worth approximately US$1.855 billion, is for the construction of three new Borstar technology polyolefins units and associated material handling facilities, laboratory facilities ...  >>MORE

New steel plant in Abu Dhabi with 40000 TPA to boost UAE production capacity by over 250 percent

Posted on 03/06/2007

A new steel plant to be set up in Abu Dhabi with a production capacity of 400,000 TPA (Tonnes Per Annum) was announced today by Gulf Steel Industries Company (Gulf Steel), a UAE's leading private sector steel manufacturer. The new investment by Gulf Steel, an Abu Dhabi-based subsidiary of Al-Nasser Industrial Enterprises L.L.C. (ANIE), will see the establishment of a new steel rolling mill at Musaffah ICAD II (Industrial City of Abu Dhabi), Abu Dhabi. The facility which will take up an area ...  >>MORE

Emal hands out Dh1.1b contract

Posted on 01/06/2007

Emirates Aluminium (Emal) awarded a Dh1.1 billion (US$300 million) engineering, procurement, construction and management contract for the smelter to Canada's SNC-Lavalin and Australia's Worley Parsons, the Abu Dhabi-based company said in a statement yesterday. The contract is for the first phase of Emirates Aluminium's greenfield project at a six square kilometre site in Khalifa Port Industrial Zone. Emirates Aluminium yesterday broke ground at what would be the world's largest single-site ...  >>MORE

Installed UAE district cooling capacity to grow at 63% annually

Posted on 21/05/2007

Total installed District Cooling (DC) capacity in the UAE is expected to reach four million tonnes of refrigeration (TR) by 2012 at a compounded annual growth rate of 63 per cent, according to a report. In 2005, total DC capacity in UAE was 130,000 TR. Based on the findings of the report, which was prepared by Eric Chang of The National Investor (TNI), the UAE appears to be the most promising market in the GCC region. "The country is not the largest market in terms of size, but the ...  >>MORE

Emaar unit buys stake in steel building company

Posted on 16/05/2007

Emaar Industries and Investments (EII), a subsidiary of real estate giant Emaar Properties, has bought a 60 per cent stake in Mammut Building Systems (MBS), a leading manufacturer of steel buildings. Officials at Dubai-based MBS say the investment will fuel regional expansion and a hike in production that is expected to double the company's Dh500 million turnover in less than a year. "After expansion we will be a Dh1 billion company in the UAE," said Behzad Ferdows, president and CEO of ...  >>MORE

Decree creating a new aluminium company

Posted on 30/04/2007

President H.H. Sheikh Khalifa bin Zayed Al Nahyan yesterday decreed the incorporation of "the Emirates Aluminium Company Limited" as a private joint stock company owned equally by Mubadala Development Company and Dubai Aluminium Company Limited. The Company will engage in development, construction, financing, and operation of aluminium smelters both within and outside the UAE, including one in Al Taweela area, Abu Dhabi, and promotion of aluminium-based industries within the UAE and abroad, ...  >>MORE

RAK cement firm's profit jumps 221% to Dh34.5m in first quarter

Posted on 23/04/2007

The Ras Al Khaimah Company for White Cement and Construction Materials announced yesterday a Dh34.5 million net profit for the first quarter of the year, a 221 per cent increase over the corresponding period of the previous year. The company suffered a Dh28.4-million loss in the first quarter of 2006 due to losses on its investments when the local financial markets fell sharply. Fahem Abdullah Yousuf, director-general, said the company has surmounted last year's losses and generated ...  >>MORE

DUBAL to increase supplies to MENA to 300,000 TPA by 2009

Posted on 22/04/2007

Dubai Aluminium Company (DUBAL), the world's seventh largest producer of premium quality aluminium, expects to grow the volume of its sales to the Middle East and North Africa regions to 300,000 TPA by 2009, equating to a 25 per cent increase on the 240,000 tonnes supplied to these regions in 2006. The growth will simultaneously increase the proportion of DUBAL's production volumes sold to the Middle East and North Africa from approximately 28% to 33% of the aluminium giant's total ...  >>MORE

Borouge to take over Melamine project

Posted on 11/04/2007

Abu Dhabi Polymers (Borouge) is planning to take over a project currently being undertaken by the Abu Dhabi National Oil Company (ADNOC) and AMI Agrolinz Melamine International (AMI) in Ruwais. The ADNOC announced the project last April year to be developed in collaboration with AMI Agrolinz Melamine International (AMI). The development would see the creation of a melamine plant with an annual production capacity of 80,000 tonnes. The front-end engineering and design phase has begun and it ...  >>MORE

Dubai Industrial City launches hub for industrial R&D

Posted on 02/04/2007

Dubai Industrial City, the leading industrial destination in the UAE and the GCC and a member of Tatweer, yesterday launched a dedicated area for scientific research companies and testing laboratories operating within the industrial sector across the UAE and the region. The launch of the 18 million square foot site took place yesterday. Rashid Al Ansari, chief executive of Dubai Industrial City, said in a statement that the dedicated area will fulfil a major operational requirement of the ...  >>MORE

Tabreed and Aldar form joint venture

Posted on 21/03/2007

The UAE's district cooling supplier Tabreed and Abu Dhabi-based developer Aldar Properties formed a joint venture, A&T Cool, to build 25 district cooling plants in Abu Dhabi at an investment cost of up to Dh11 billion (US$3 billion), a statement said. A&T Cool will have a capital equity investment of around Dh2.93 billion (US$800 million). Both Aldar and Tabreed are publicly traded companies. The strategic move gives Tabreed instant access to all Aldar Properties master developments, as the ...  >>MORE

RAK Ceramics posts Dh137 million profit

Posted on 12/03/2007

RAK Ceramics, the Ras Al Khaimah based global ceramic major, has announced a distributable net profit of Dh137.8 million for the year 2006, up from Dh128.16 million in 2005. The annual general assembly of RAK Ceramics held at Hotel Al Hamra Fort yesterday also approved a 20 percent bonus share issue to the shareholders. According to the annual report, total sales of the company surged to Dh1.68 billion in 2006 from Dh1.29 billion in 2005. The total assets of the company swelled from Dh2.69 ...  >>MORE

Dubai puts Dh14b into Silicon Oasis

Posted on 05/03/2007

Dubai has invested Dh14 billion in a technology park the emirate is building to attract electronic industry companies. So far 36 companies have signed up to start their activities from Dubai Silicon Oasis (DSO), a 7.2 square kilometre development on Emirates Road. The project's first phase, launched in late 2002, has been completed and the second phase is now under way, Dubai Silicon Oasis Authority's chief corporate services officer Juma Al Matroushi said. Dubai Silicon Oasis said ...  >>MORE

UAE, Algeria Partners in new US$5 billion aluminium smelter complex deal

Posted on 04/03/2007

In an historic alliance, Sonatrach the national Algerian oil and gas company has today signed in Algeria an agreement with Mubadala Development Company, a wholly owned investment and development vehicle of the Government of Abu Dhabi and Dubai Aluminium Company (DUBAL), wholly owned by the Government of Dubai to develop the country's first aluminium smelter. The smelter is to be located at a 400 hectare site at Beni Saf on the western coastline of Algeria. It is expected to produce around ...  >>MORE

Abu Dhabi Executive Council approves establishment of Steel Plant

Posted on 25/02/2007

The Executive Council of Abu Dhabi Emirate has endorsed the establishment of Emirates Steel Plant as a subsidiary of the General Holding Company which is wholly owned by the Government of Abu Dhabi. The establishment of the new plant would entail the expansion of existing facilities of Emirates Steel Factory by injecting Dh4 billion worth of investments. The move is part of the Abu Dhabi's endeavours to diversify its economic base and lay down a strong industrial infrastructure. According ...  >>MORE

Dodsal gets Dh1b contract from Takreer for Ruwais sulphur unit

Posted on 21/02/2007

Abu Dhabi Oil Refining Co (Takreer) has awarded Dodsal Pte Ltd a Dh1 billion engineering procurement and construction (EPC) contract to execute the Ruwais Sulphur Handling Expansion (Phase-III) project. The project is scheduled to be completed by the fourth quarter of 2009. "The objective of the project is to increase the storage and processing capacity in order to handle the additional liquid sulphur that will be received from various Adnoc Group companies," Takreer said. The project ...  >>MORE

Dubai Aluminium Company ranks seventh largest producer

Posted on 19/02/2007

The Dubai Aluminium Company (Dubal) is ranked the seventh largest global producer in the industry with a current production capacity of 861,000 tonnes per annum by the end of 2006, a capacity that is expected to reach 920,000 tonnes by the end of 2008. Abdullah J.M. Kalban, CEO of Dubal, said: "After our US$230 million ongoing Potline 5 and 6 B expansion, we will be able to raise our current metal production capacity to 920,000 tonnes per annum, while the casthouse will have 1.13 million ...  >>MORE

RAK signs MoU for a JV with Govt. of Andhra Pradesh to set up 1 million tonne alumina plant

Posted on 16/02/2007

Ras Al Khaimah has signed a Memorandum of Understanding (MoU) for a joint venture with the Government of the South Indian State of Andhra Pradesh (AP) for setting up a one million tonne Alumina per annum plant and a 250,000 tonne Aluminium smelter in Andhra Pradesh. The MoU in this regard was signed by H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, and Andhra Pradesh Chief Minister, Dr. Y.S. Rajasekhara Reddy in AP on Wednesday. Ras Al Khaimah, ...  >>MORE

Mubadala, Dubal sign joint venture agreement

Posted on 12/02/2007

In a landmark joint venture, Dubai Aluminium Company (DUBAL), one of the world's largest aluminium producers, and Mubadala Development Company, a wholly-owned investment and development vehicle of the Government of the Emirate of Abu Dhabi, have today signed the joint venture agreement (JV) for the development of Emirates Aluminium (EMAL). The joint venture agreement entails the construction and operation of a world class green-field aluminium smelter complex which will happen in two phases. ...  >>MORE

Borouge signs construction deal

Posted on 06/02/2007

Abu Dhabi-based polymer producer Borouge and a consortium of the engineering division of the Linde Group and CCC yesterday signed a contract worth US$1.3 billion for the construction of a new ethylene cracker, which is considered the largest grassroots gas cracker in the world with a capacity of 1.5 million tonnes per annum. The contract was signed by Harri Bucht, chief executive of Borouge, Aldo Belloni, member of the executive board of Linde AG and Farid Asfour, vice-president of CCC. The ...  >>MORE

Tabreed net profit soars 104% as revenues rise to Dh469.9m

Posted on 05/02/2007

Tabreed, a district cooling provider, has posted a record-breaking 104 per cent growth in net profits to Dh104.4 million last year compared to Dh51.14 million in 2005, a company statement said. The UAE-based company, with operations in six countries, generated revenues of Dh469.9 million in 2006 - an increase of 18 per cent over 2005 - and posted a gross profit of Dh189.02 million for 2006, up from a previous 2005 high of Dh151.91 million. Tab reed's total assets reached Dh4.18 billion last ...  >>MORE

Borouge plans to raise its polyolefin output by 8pc

Posted on 04/02/2007

Borouge, a leading Abu Dhabi-based provider of innovative, value creating plastics' solutions will increase its production capacity of polyolefins by 8 per cent to 620,000 tonnes by the end of next year. Borouge, a joint venture between state-owned Abu Dhabi National Oil Company (Adnoc) and Borealis, a Dutch petrochemical group has increased production to 574,000 tonnes in 2006 from 518,000 tonnes in 2005, according to company officials. According to a company executive, "The company now ...  >>MORE

Ducab announces Dh660m expansion

Posted on 25/01/2007

Ducab, the UAE-based manufacturer of power cables announced yesterday that will undertake a Dh660 million expansion of its production capacity. The project is scheduled to be completed by the end of 2008. With this expansion, Ducab's total production capacity is expected to increase by 50 per cent. The new round of expansion will focus on the manufacture of power cables, building wires and cables of specialist designs at both the Dubai and Abu Dhabi factory sites. Both factories will be ...  >>MORE

UAE and MENA achieved significant growth in the past decade: Al Kindi

Posted on 18/01/2007

The United Arab Emirates and the Middle East have, in the last decade or so, developed at a very fast pace and this is reflected across the region with investments in the construction industry topping billions of dollars, according to Mohammed Saeed Al Kindi, Minister of Environment and Water. Addressing the International District Cooling conference in Abu Dhabi yesterday, Al Kindi said that While progress was necessary and vital to any nation or region, it is important to keep the ...  >>MORE

Dubai Industrial City sells plots worth Dh1.2b

Posted on 16/01/2007

Dubai Industrial City has sold land plots worth Dh1.2 billion to investors in commercial areas, where properties are available on a freehold basis. The proceeds will be used for building schools, hospitals and entertainment facilities within the industrial zone, officials said. So far 83 million square feet of land has been sold and leased in both industrial and commercial areas, a Dubai Industrial City spokesman told Gulf News, without disclosing the value of land lease deals. Three out of ...  >>MORE

Tabreed plans to double capacity by 2009 with investment of up to Dh6b

Posted on 16/01/2007

National Central Cooling Company (Tabreed) is planning to double its capacity by the year 2009, according to a top company official. "We have 24 plants with a capacity that exceeds 350,000 tonnes at present, while 14 more plants are under construction and are projected for operation in 2007, to increase the capacity to more than 400,000 tonnes," explained Dany Safi, the company's chief executive. Tabreed is planning to invest Dh5 billion to Dh6 billion in expansion plans in the coming three ...  >>MORE

Borouge and Borealis mark 5yrs of production in UAE

Posted on 15/01/2007

Borouge and Borealis, the leading providers of innovative, value creating plastics solutions in the Middle East, Africa, Asia-Pacific and Europe, yesterday celebrated Borough's fifth year of production. At a press conference held at Arab last 2007 in Dubai, the two companies highlighted Borough's outstanding success to date and outlined its vision for the next five years and beyond. Chief Executive Officer of the Borouge Production Company, Harry Butch said that the five year production ...  >>MORE

Dubai Investments announces launch of Glass LLC

Posted on 21/12/2006

Dubai Investments PJSC (DI) has announced the launch of Glass LLC, its new corporate arm dedicated to meeting the growing needs of the regional glass industry. Glass LLC is also the first glass holding company in the Middle East. Glass LLC will incorporate the four DI subsidiary companies: Emirates Glass LLC, which is one of the largest processors of flat architectural glass in the region, Emirates Float Glass, the UAE's first integrated glass manufacturing and processing facility being ...  >>MORE

RAK gets Dh20m glass bottle unit

Posted on 17/12/2006

Sheikh Saud Bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, laid the foundation stone for RAK Gani Glass plant, a pharmaceutical container glass plant to be set up with an investment of US$20 million (Dh71 million) at the RAK Industrial Zone at Al Jazeera Al Hamra. The new plant, which will have the capacity to produce 600 million bottles per year, is being set up by Gani Glass Ltd, Pakistan's largest glass manufacturer, in collaboration with Ras Al Khaimah Investment ...  >>MORE

Dubal expansion targets largest smelter status

Posted on 30/11/2006

Dubai Aluminium (Dubal) will add 60,000 tonnes annually to its production capacity by 2008, making the Jebel Ali plant the largest aluminium smelter of its kind in the world, officials said. Dubal yesterday inaugurated two new potlines, increasing its primary aluminium production capacity by 100,000 tonnes per annum to 861,000 tonnes. The company invested Dh1 billion in the Potline 7B and Potline 9B expansion programme launched in 2005. It said the project was completed 15 per cent under ...  >>MORE

Borouge awards approximately US$1300 million-Borouge 2

Posted on 29/11/2006

Cracker (EU2) Contract to Linde Engineering Borouge, the leading provider of innovative plastic solutions, yesterday announced that it has awarded the contract to build its new ethylene cracker to Linde Engineering. The cracker will have a capacity of approximately 1.5 million tons per annum. It is considered to be the largest gas cracker in the world. The value of the contract is approximately US$1 billion and 300 million and is awarded on a lump sum EPC turn key basis. Work is expected to ...  >>MORE

Borouge assures quality of its pipe grades with Traccoding

Posted on 14/11/2006

Three Borouge Borstar PE pipe grades are now registered with the international Traceability coding (Traccoding) to fulfil the ISO12176-4 (2003). Traccoding is an encoding system for PE piping systems, covering raw materials and components such as pipes, fittings and valves. Specific codifications are given to each item, and these codes will ease to identify and trace all the elements of the PE pipe system during the service life of the pipe network. Traccoding is currently used in several ...  >>MORE

Zones Corp to lure Dh12.4b

Posted on 07/11/2006

Abu Dhabi's Higher Corporation for Special Economic Zones (Zones Corp) will create 11 more zones and attract investments totalling Dh12.4 billion over the next three years, a top official said. "Investors have already committed Dh3 billion to the Industrial City of Abu Dhabi (ICAD 3), that is part of Zones Corp," said Norman Wing Johnston, Chief Executive, Zones Corp. "ZonesCorp expects to generate a rental and service charge income of approximately Dh9 billion at current valuation. The ...  >>MORE

Ducab wins Dh100m Saudi power cable order

Posted on 26/10/2006

Dubai Cable Company Ltd (Ducab) recently signed a Dh100 million contract with Saudi Electric Co (SEC) for the supply of medium and low voltage cables, its largest single order. The deal marks Ducab's strong entry into the Saudi market. Ducab, which currently tops the list of regional cable manufacturer, secured the SEC tender after fierce competition both from Saudi and regional candidates. The cables supplied by Ducab will meet part of SEC's plan for the rapid expansion and upgrading ...  >>MORE

Palm District Cooling plans to raise Dh12.84b in five years

Posted on 26/10/2006

Palm District Cooling (PDC), one of the region's fastest growing district cooling company, plans to raise over Dh12.84 billion (US$3.5 billion) over the next five years to fund its capital expenditure requirements, the company said in a statement. Dubai-based district cooling utility company, PDC, an Istithmar subsidiary, recently secured a three year US$50 million Islamic finance facility from Dubai Islamic Bank (DIB) to fund its exponential expansion which will see the company become the ...  >>MORE

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Quick List

Tabreed's profits rise to Dh34m on strong sales


Emal awards Dh500m deal


FERTIL signs US$ 240 million with Pakistani and Swiss companies


GCC aluminium output to hit 3.75m tonnes


Borouge services Chinese growth with expanded office in Puxi, Shanghai


Dubal expects double exports to EU in 5 years


Borouge formally signs US$3.1 billion contracts for expansion project


New steel plant in Abu Dhabi with 40000 TPA to boost UAE production capacity by over 250 percent


Emal hands out Dh1.1b contract


Installed UAE district cooling capacity to grow at 63% annually


Emaar unit buys stake in steel building company


Decree creating a new aluminium company


RAK cement firm's profit jumps 221% to Dh34.5m in first quarter


DUBAL to increase supplies to MENA to 300,000 TPA by 2009


Borouge to take over Melamine project


Dubai Industrial City launches hub for industrial R&D


Tabreed and Aldar form joint venture


RAK Ceramics posts Dh137 million profit


Dubai puts Dh14b into Silicon Oasis


UAE, Algeria Partners in new US$5 billion aluminium smelter complex deal


Abu Dhabi Executive Council approves establishment of Steel Plant


Dodsal gets Dh1b contract from Takreer for Ruwais sulphur unit


Dubai Aluminium Company ranks seventh largest producer


RAK signs MoU for a JV with Govt. of Andhra Pradesh to set up 1 million tonne alumina plant


Mubadala, Dubal sign joint venture agreement


Borouge signs construction deal


Tabreed net profit soars 104% as revenues rise to Dh469.9m


Borouge plans to raise its polyolefin output by 8pc


Ducab announces Dh660m expansion


UAE and MENA achieved significant growth in the past decade: Al Kindi


Dubai Industrial City sells plots worth Dh1.2b


Tabreed plans to double capacity by 2009 with investment of up to Dh6b


Borouge and Borealis mark 5yrs of production in UAE


Dubai Investments announces launch of Glass LLC


RAK gets Dh20m glass bottle unit


Dubal expansion targets largest smelter status


Borouge awards approximately US$1300 million-Borouge 2


Borouge assures quality of its pipe grades with Traccoding


Zones Corp to lure Dh12.4b


Ducab wins Dh100m Saudi power cable order


Palm District Cooling plans to raise Dh12.84b in five years