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THE ECONOMY - INDUSTRY

Dubai exports of top plastic films valued Dh304 million in 2009

Posted on 07/07/2010

The Dubai Export Development Corporation (EDC), an agency of the Dubai Department of Economic Development, Government of Dubai, revealed that the value of top plastic films exported by Dubai (Polypropylene, PET,PVC) in 2009 edged about Dh304 Million. According to its Plastics Films, Production and Export Capabilities Report for 2010, Polypropylene, Dubai's top plastic films' export commodity, has seen steady growth in direct trade since 2004 despite a sharp decline in both, imports and ...  >>MORE

UAE paper production rose 25% to US$27 million in 2009

Posted on 05/07/2010

The UAE produced US$ 27 million worth of paper in 2009, a 25 percent increase in the production capacity, which rose to 10 million metric tonnes from 8 million metric tonnes in 2008. Further evidence on the evolution of this industry comes from the fact that Al Fajer information and Services has decided to hold the Paper Arabia every year, instead of every two years. According to Al Fajer, the show demonstrates the UAE's stature in regional and global paper industry and its expanding reach ...  >>MORE

Borouge signs major contracts valued at US$ 2.6 billion to advance its strategic Borouge 3 expansion

Posted on 30/06/2010

Borouge, a leading provider of innovative plastics solutions, formally signed three major Engineering, Procurement and Construction (EPC) contracts valued at approximately US$ 2.6 billion for its Borouge 3 strategic expansion in Ruwais, Abu Dhabi, in the UAE. The signing ceremony took place at the Sheikh Khalifa Energy Complex in Abu Dhabi in the presence of dignitaries from the UAE, South Korea and Italy. The contracts were signed by Abdulaziz Alhajri, CEO of Abu Dhabi Polymers Company ...  >>MORE

Borouge awards three major EPC contracts for Borouge 3 expansion project valued at US$2.6 billion

Posted on 27/05/2010

Borouge, a leading provider of innovative plastics solutions, has awarded three major Engineering, Procurement and Construction (EPC) contracts valued at approximately US$2.6 billion for its Borouge 3 expansion project in Ruwais, Abu Dhabi, in the UAE. These significant investments will expand the production capacity of the plant to 4.5 million tonnes per year (t/y) by 2013, making it the largest integrated polyolefins site in the world. A contract worth US$1,255 billion for the construction ...  >>MORE

Emirates Steel certified to produce grade B500B rebar

Posted on 27/05/2010

Emirates Steel, announced yesterday that it has been awarded the certification to manufacture Grade B500B rebar and coil conforming to BS 4449:2005 by the UK Certification Authority for Reinforcing Steels (CARES). The company is also certified as a quality manufacturer and supplier of products conforming to BS 4449:1997 Grade 460B. The company now operates a quality system, which complies with the requirements of BS EN ISO 9001:2008 and the relevant CARES quality and operations assessment ...  >>MORE

Aabar profit soars 51pc

Posted on 17/05/2010

Abu Dhabi's Aabar Investments PJSC earned a net profit of Dh1.579 billion, showing an increase of 51.04 per cent in the first quarter of the year, boosted by windfall gains from derivatives and exchange gains. The investment firm booked a loss of Dh1.0454 billion in the same period a year ago, after it restated the results because "in the third quarter of 2009, management identified errors in the classification of an investment, arising from the misinterpretation of fundamental facts,” the ...  >>MORE

Borouge opens its logistics hub in Singapore

Posted on 12/05/2010

Singapore - Rashed Saud Al Shamsi, Chairman of Borouge's Marketing Company joined Lee Yi Shyan, Singapore's Minister of State for Trade and Industry and Manpower, and William Yau, CEO of Borouge's Marketing Company at the official opening ceremony of the CWT logistics complex in Singapore on May 11, 2010. CWT, being one of the largest logistics company in South East Asia, will handle up to 330,000 tonnes of value-added polyolefins from Borouge per year (t/y), including packing, repacking and ...  >>MORE

Borouge breaks ground for a new Innovation Centre in Abu Dhabi

Posted on 28/04/2010

Borouge, a leading provider of innovative, value creating plastics solutions, is breaking ground for its new Innovation Centre in Abu Dhabi, United Arab Emirates, on April 27, 2010. With a total investment in excess of US$ 70 million in equipment and facilities, Borouge's Innovation Centre in Abu Dhabi will work together with the European innovation centres of Borealis as well as with local and international educational institutions such as the Petroleum Institute of Abu Dhabi, to further ...  >>MORE

Borouge inaugurates its new compounding manufacturing plant in Shanghai

Posted on 21/04/2010

Shanghai - Borouge, a leading provider of innovative, value creating plastics solutions, inaugurated its first compounding manufacturing plant in China at a ceremony held at the plant in Shanghai on April 20, 2010. Designed to provide innovative plastics solutions to the rapidly growing local automotive and household appliances industries, the new plant has the capacity to supply up to 50,000 tonnes per year (t/y) of compounded resins to its customers. The historic event was attended by ...  >>MORE

Emirates Steel targets Greenfield investment opportunities

Posted on 19/04/2010

Emirates Steel, the largest integrated steel plant in the UAE, announced yesterday its plans for further growth, which include potential Greenfield investment opportunities and acquisitions. The announcement was made at CityBuild Abu Dhabi 2010 Exhibition, which is taking place at the Abu Dhabi National Exhibition Centre (ADNEC) from April 18 to 21. Gregor M nstermann, CEO of Emirates Steel, said, "We believe that demand for steel will continue to grow in our region by some 10 per cent this ...  >>MORE

Ministry of Economy to intervene to stall rising steel prices

Posted on 06/04/2010

The Ministry of Economy and the Contractors Association discussed yesterday the steel prices which have recently seen an unjustified surge. The coordination meeting was chaired by Director General of the Ministry Mohammed bin Ahmed Al Shehhi in the presence of Dr. Hashim Al Nuaimi, Director Consumer Protection Department. Al-Shehhi said that the Ministry of Economy is keen on a permanent basis to address any case of a rise in prices and prevent exploitation and monopoly. He pointed out that ...  >>MORE

Emal delivers first shipment of ingots

Posted on 05/04/2010

Emirates Aluminium (Emal) has delivered its first shipment of aluminium in the form of standard ingots, to Al Jaber Aluminium Extrusions, a member of the Abu Dhabi-based Al Jaber Group. Al Jaber Group is scheduled to receive a regular supply of primary aluminium from the Taweelah-based smelter and will be using its produced aluminium in a range of products from windows, doors, curtain walls, thermal breaks, lighting, access devices, signage, furniture, decor, vehicles to machine bodies. ...  >>MORE

Dubai Cotton Centre expands international presence

Posted on 24/03/2010

Dubai Cotton Centre (DCC), the cotton trade facilitation arm and a fully owned subsidiary of DMCC, announced its expansion into the global cotton trade by completing the sale of 750 metric tonnes Indian organic cotton to Malaysia between December 2009 and February 2010 in a move aimed at adding value to the supply chain in this niche market. The consignment is the first initiative by DCC to facilitate the trade in Indian cotton, which is a highly competitive and booming export product. The ...  >>MORE

Masafi introduces plastic that degrades in two years

Posted on 21/03/2010

Masafi, one of the leading bottled water companies in the region, is aiming to help clean up the Emirates. The company is introducing biodegradable plastic wrappers and hopes to use the same technology for its bottles and caps. "We have introduced oxo-biodegradable shrink wraps and handles for our 1.5 litre bottles; a first of its kind initiative in the industry for this region to protect the environment,” said Mohammed Usman, the Masafi plant manager. Empty plastic water bottles are a ...  >>MORE

DUBAL posts profits of over Dh 1 billion in 2009

Posted on 18/03/2010

H.H. Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the Board of Dubai Aluminium Company Limited (DUBAL), chaired today the company's General Assembly meeting which was held to review operational results and achievements for 2009. A board report said DUBAL's profits reached about Dh1.1 billion in 2009, a figure that indicated the company has weathered the storm of the global financial crisis and its direct effect on industry from recession ...  >>MORE

Emal wins MEED's first Aluminium Leadership Award

Posted on 17/03/2010

Emirates Aluminium (EMAL) has won the first ever MEED Middle East Aluminium Leadership Award. The award was received by Vice Chairman Abdulla Kalban and EMAL's CEO, Saeed Al Mazrooei on behalf of the Chairman H.E. Khaldoon Al Mubarak. The award was set up by MEED to recognise achievements in the Middle East aluminium industry once a year. It was presented on the first morning of MEED's Middle East Aluminium 2010 Conference, held from 16 - 17 March, at The Address Hotel in Dubai Marina. ...  >>MORE

UAE steel prices stage gradual recovery

Posted on 12/03/2010

Steel prices in the UAE have reached Dh2,150 a tonne this month after increasing every month since last December. This growth has brightened prospects in terms of the capacity of mills to operate at full capacity, according to Danube Building Materials, a company dealing in construction, building materials and shop-fitting. Local steel suppliers are expected to reinforce their presence in the regional market as scrap prices continue to climb, costs of raw materials steadily increase, and ...  >>MORE

Emaar Industries '&' Investments celebrates opening of new state-of-the-art plant

Posted on 11/03/2010

Emaar Industries and Investments Ltd (EII), a member of Emaar Properties PJSC, celebrated the opening of a state-of-the-art manufacturing plant for low voltage and medium voltage switchboards of its subsidiary Dynergy Technologies in TechnoPark, Dubai. The first phase of the new facility, sprawling over 22,000 sq m, will create 300 jobs and has a capacity to produce 30,000 switchboard panels per year. Work on the second phase is being planned with a new extension for medium voltage panels ...  >>MORE

Tabreed gets Dh1.3b loan

Posted on 09/03/2010

Tabreed, the Abu Dhabi-based district cooling company, yesterday said it has secured a Dh1.3-billion loan from Mubadala to help with its operating expenses this year after reporting a record loss of Dh1.1 billion in 2009. Tabreed's stock nosedived after the announcement, closing 9.5 per cent lower at Dh0.57 on the Dubai Financial Market. Analysts had not expected the company to take an impairment charge of Dh1.2 billion, which Tab-reed said reflected "the long-term value of projects in light ...  >>MORE

Emal enters international aluminium market with 1st shipment to Daewoo International Corp

Posted on 11/02/2010

Emirates Aluminium (EMAL) announced yesterday that it had signed a contract with Daewoo International Corp. to deliver aluminium sow ingots to the South Korean conglomerate. EMAL has taken an important step towards fulfilling its vision of becoming one of the world's largest producers and suppliers of aluminium products. Saeed Fadhel Al Mazrooei, CEO of EMAL, expressed his pleasure over the agreement with Daewoo, saying he believes it sets the stage for EMAL to attract other important clients ...  >>MORE

Mohammed bin Rashid inspects vehicle assembled locally

Posted on 07/02/2010

Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, has inspected the external transport vehicle of the information office of Dubai government, which was fully prepared and assembled locally. Sheikh Mohammed was briefed by Ahmed Abdullah Al Sheikh, director general of the information office of Dubai government about the technical devices in the car, which are linked directly with satellites and could telecast event live directly to ...  >>MORE

Emirates Gas offers environment-friendly and cost-effective product for metal cutting

Posted on 01/02/2010

Emirates Gas, a subsidiary of Emirates National Oil Company (ENOC), has introduced an environmentally-friendly and cost-effective solution to metal cutting by offering Cutting Edge Gas, ideal for metal working applications. Traditionally, metal cutting has been done using Acetylene, which is more expensive. Cutting Edge Gas, which is used for cutting, heating, brazing and gouging applications, is about 30 per cent cheaper, lasts longer, reduces handling costs and is ...  >>MORE

Emirates Steel to seek refinancing of US$1.5bn loan

Posted on 25/01/2010

Abu Dhabi's Emirates Steel Industries (ESI) will approach banks in March to refinance US$1.5 billion (Dh5.50bn) used for the first and second phase of its plant expansion, the company's chief financial officer said yesterday. Last year the company had announced the completion of its first phase expansion plan which lifted output from 65,000 tonnes per year to two million tonnes. "The cost of the first expansion phase was US$700 million and was done through a bridging loan which Emirates Steel ...  >>MORE

Dubal output sets record in 2009

Posted on 24/01/2010

Dubai Aluminium Co (Dubal) said yesterday that it boosted output of cast aluminium products at its Jebel Ali smelter 6.5 per cent in 2009 to more than 1 million tonnes for the first time despite difficult economic conditions. Dubal said in an e-mailed statement it produced nearly 1.01 million metric tonnes of cast aluminium products in 2009, compared with 947,751 tonnes a year earlier. The "record not only fulfilled a corporate objective in our 30th anniversary year, but it was also ...  >>MORE

GE Energy signs US$45m service contract with Dubal

Posted on 24/01/2010

GE Energy has signed a multi-year service contract for more than US$45 million (Dh166 million) with Dubai Aluminium Company Limited (Dubal), one of the world's largest producers of aluminium, a company statement said Tuesday. "The agreement is designed to reduce the cost of aluminium production while maximising the reliability and overall performance of 19 GE gas turbines that power the Dubal production complex," it said. Abdullah Kalban, president and CEO of Dubal, said: "Performance and ...  >>MORE

Sheikh Mansour bin Mohammed and Crown Prince of Denmark inaugurate UAE's largest pre-insulated pipe manufacturing facility

Posted on 21/01/2010

HH Sheikh Mansour Bin Mohammed Bin Rashid Al Maktoum and H.R.H. the Crown Prince Frederik of Denmark, inaugurated Empower-Logstor Insulated Pipes Systems (ELIPS), UAE's largest pre-insulated pipe manufacturing facility, in Jebel Ali. The move signifies UAE's drive towards diversification of economy in order to sustain growth. ELIPS is a joint venture between Emirates Central Cooling Systems Corporation (EMPOWER), UAE's leading district cooling company and LOGSTOR, the world's largest ...  >>MORE

EMAL celebrates delivery of its first cast metal

Posted on 14/01/2010

H.E. Khaldoun Al Mubarak and Abdulla Kalban, Chairman and Vice-Chairman of EMAL Board of Directors joined nearly 2,000 EMAL employees and contractors on the EMAL site today to celebrate the delivery of the first cast metal to clients across the world. Ramp up to full production at EMAL began in December with the delivery of the first crucibles of molten metal from the aluminium smelter to the plant casthouse. The first metal was cast into 650kg sow ingot. The casting of the first metal ...  >>MORE

Borouge establishes new company in Guangzhou

Posted on 08/01/2010

Further to the formation of Borouge Sales and Marketing Shanghai Co., Ltd and the Borouge Compounding Shanghai Co., Ltd in 2009, Borouge, a leading provider of innovative value creating plastics solutions, announces the incorporation of Borouge Sales and Marketing (Guangzhou) Co., Ltd. The inauguration of the new Company, held at the Shangri-La Hotel on January 6, 2010, was attended by senior government officials from the Guangzhou Municipal Government and the United Arab Emirates as well as ...  >>MORE

UAE's AIS sets up factory for next-generation commercial, military and passenger vehicles

Posted on 10/12/2009

UAE's Advance Integrated System or AIS, has announced the setting up of a company in Abu Dhabi to manufacture next-generation commercial, military and passenger vehicles. The company named ALANQA will design, manufacture and sell the vehicles in the country as well as export them to other regional markets. The prototypes of the vehicles have already been designed, and which will be unveiled at the Dubai International Auto Show starting December 15. The manufacturing of the vehicle will ...  >>MORE

Emal to raise Dh2.6b for smelter expansion

Posted on 09/12/2009

Emirates Aluminium (Emal), which has plans to become the world's biggest single aluminium smelter, expects to raise US$700 million (Dh2.6 billion) from credit agencies by next month, the company's finance chief said yesterday. So far there has been no difficulty in raising funds for the project's phase two, Chief Financial Officer Bill Campbell said. "We are raising US$700 million from export credit agencies which is in a cash closing position and is expected to close next month," he said. ...  >>MORE

Dubal celebrates 30 years of industrial progress

Posted on 12/11/2009

Dubai Aluminium Company (Dubal) celebrated its 30th anniversary yesterday. Established to aid the diversification of the UAE economy by adding value to the country's natural resources, the state-owned enterprise is widely regarded as the industrial flagship of the UAE and is one of the largest non-oil contributors to Dubai's economy. Dubal president and chief executive Abdullah J.M. Kalban said the company's roots stem back to May 1975, when the late Sheikh Rashid Bin Saeed Al Maktoum (then ...  >>MORE

UAE is the world's number one importer of cast iron rods in 2008

Posted on 05/11/2009

UAE imports of cast iron rods were estimated at US$6.77 billion in 2008, rising 237 per cent over 2007. This figure is 14 times more than the global growth rate of imports in 2008, according to a report by Ministry of Foreign Trade. Turkey was the UAE's main source of cast iron rods in 2008, contributing 87 per cent of supply. China came second at 12 per cent, with the remaining 1 per cent coming from other global sources. "UAE exports and re-exportation of cast iron rods were at around USD ...  >>MORE

Abu Dhabi cement prices decline by 7% in October

Posted on 01/11/2009

Cement prices in Abu Dhabi declined by almost seven per cent in October compared to the previous month, mainly as a result of falling demand. Prices of Portland cement and sulphate-resistant cement dropped by almost Dh25 per tonne compared to the last week of September. A tonne of Al Etihad Portland Cement, which was selling for Dh330 on September 26, was priced at Dh305 on October 27. During most of the month, prices of the product fluctuated between Dh340 and Dh330. Similarly, the cost of ...  >>MORE

Dubai Cotton Centre's new services to strengthen Emirate's position as regional cotton trade hub

Posted on 20/10/2009

In a move to strengthen Dubai's position as a hub for the cotton trade in the Middle East, Dubai Cotton Centre (DCC) has launched a membership drive, offering members a package of new services. Members of DCC, a fully owned subsidiary of the Dubai Multi Commodities Centre (DMCC), can now enjoy real time price quotes, online bidding and a 30-day free storage facility at Jebel Ali port. This announcement was made during DCC's participation at the 5th International Uzbek Cotton Fair 2009, held ...  >>MORE

Borouge 3 on track for completion

Posted on 14/10/2009

Abu Dhabi Polymers Company (Borouge), the leading petrochemical company of the emirate, has said Borouge 3 is on track for on-time completion in 2013 to become one of the top-ten world polyolefin producers. Abdul Aziz Al Hajri, Chief Executive Officer of Borouge said the company's share of the global market for polyolefin was set to grow from 0.6 per cent this year by more than 2.5 per cent in 2013. He said the production capacity was expected to increase by more than 1.5 per cent in 2010. ...  >>MORE

Julphar plans H1N1 vaccine output in 2010

Posted on 24/09/2009

UAE-based Gulf Pharmaceutical Industries (Julphar) said yesterday it plans to start producing an H1N1 vaccine early next year. Julphar said in a statement on the Abu Dhabi bourse website it would start production after obtaining the technology and raw materials for the vaccine in January. It said revenue from the vaccine's production would depend on demand, without giving further details. Julphar said last week it had acquired exclusive rights to manufacture an H1N1 vaccine from China's ...  >>MORE

Emirates Steel constructs the region's first Heavy Sections Mill

Posted on 16/09/2009

The Emirates Steel has awarded a 1.74bn contract to Danieli Corporation for the construction of Phase II B of Emirates Steel's Dh 9 billion expansion, an ambitious plan the company launched nearly three years ago. H.H. Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince's Court and Chairman of General Holding Corporation (GHC), the parent company of Emirates Steel, signed the contract with Danieli Corporation of Italy. Danieli Corporation will be the turnkey EPC ...  >>MORE

MCS approves strategic plan for cleaner production

Posted on 14/09/2009

The Ministerial Council for Service (MCS) held a meeting yesterday under the chairmanship of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister '&' Minister of Presidential Affairs. During the meeting, the NCS a proved a proposal under which, the Ministry of Environment '&' Water will develop and implement a strategic plan for cleaner development in the UAE. Cleaner production is a comprehensive environmental protection process, aimed at minimizing waste and emissions and ...  >>MORE

Emal smelter 60% complete

Posted on 10/09/2009

Emirates Aluminium (Emal), planned to be the world's largest single aluminium smelter, is 60 per cent complete, according to Arabic language Al Khaleej, which cited a company executive. "Construction works are ongoing according to plan and the budget allocated by the company, pointing to more than 60 per cent of the project being completed,” said Yousuf Abdulla Bastaki, the project director of Emal. Emal is a 50-50 joint venture between Dubai Aluminium Company (Dubal) and Mubadala ...  >>MORE

Dubal on track to meet output target, expansion plans

Posted on 06/09/2009

Dubai Aluminium Company expects to rake in profits this year despite dwindling sales and weaker prices, a top official from the company said. Dubal is also continuing all its overseas expansion plans and is looking at hiring more UAE nationals. "Dubal has remained profitable in 2009, despite the negative trends of world markets and we expect this trend to continue," Abdulla Kalban, Dubal President and Chief Executive, told Emirates Business. Dubal's profits last year reached Dh2.2 billion ...  >>MORE

Ducab's Q2 net sees 30% rise

Posted on 23/08/2009

Ducab, a leading manufacturer of high quality power cables in the Middle East, announced its first half results that show evidence of the improving trend in the region's economies. Sales in the second quarter of 2009 showed a 30 per cent improvement over the first three months of the year. The total sales of Dh1.2 billion for the first half saw an 18 per cent decline over the first half of 2008, in line with the lower activity in the real estate sector. Copper, a key raw material for cable, ...  >>MORE

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Quick List

Dubai exports of top plastic films valued Dh304 million in 2009


UAE paper production rose 25% to US$27 million in 2009


Borouge signs major contracts valued at US$ 2.6 billion to advance its strategic Borouge 3 expansion


Borouge awards three major EPC contracts for Borouge 3 expansion project valued at US$2.6 billion


Emirates Steel certified to produce grade B500B rebar


Aabar profit soars 51pc


Borouge opens its logistics hub in Singapore


Borouge breaks ground for a new Innovation Centre in Abu Dhabi


Borouge inaugurates its new compounding manufacturing plant in Shanghai


Emirates Steel targets Greenfield investment opportunities


Ministry of Economy to intervene to stall rising steel prices


Emal delivers first shipment of ingots


Dubai Cotton Centre expands international presence


Masafi introduces plastic that degrades in two years


DUBAL posts profits of over Dh 1 billion in 2009


Emal wins MEED's first Aluminium Leadership Award


UAE steel prices stage gradual recovery


Emaar Industries '&' Investments celebrates opening of new state-of-the-art plant


Tabreed gets Dh1.3b loan


Emal enters international aluminium market with 1st shipment to Daewoo International Corp


Mohammed bin Rashid inspects vehicle assembled locally


Emirates Gas offers environment-friendly and cost-effective product for metal cutting


Emirates Steel to seek refinancing of US$1.5bn loan


Dubal output sets record in 2009


GE Energy signs US$45m service contract with Dubal


Sheikh Mansour bin Mohammed and Crown Prince of Denmark inaugurate UAE's largest pre-insulated pipe manufacturing facility


EMAL celebrates delivery of its first cast metal


Borouge establishes new company in Guangzhou


UAE's AIS sets up factory for next-generation commercial, military and passenger vehicles


Emal to raise Dh2.6b for smelter expansion


Dubal celebrates 30 years of industrial progress


UAE is the world's number one importer of cast iron rods in 2008


Abu Dhabi cement prices decline by 7% in October


Dubai Cotton Centre's new services to strengthen Emirate's position as regional cotton trade hub


Borouge 3 on track for completion


Julphar plans H1N1 vaccine output in 2010


Emirates Steel constructs the region's first Heavy Sections Mill


MCS approves strategic plan for cleaner production


Emal smelter 60% complete


Dubal on track to meet output target, expansion plans


Ducab's Q2 net sees 30% rise