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THE ECONOMY - INDUSTRY

Emirates Aluminium's pre-feasibility study underway

Posted on 31/10/2008

As construction of the first phase of the EMAL aluminium smelter complex continues in readiness for commencing metal production in the first quarter of 2010, Emirates Aluminium's pre-feasibility study for the second phase of the smelter is underway. Canada's SNC Lavalin and Australia's WorleyParsons, the two companies awarded the engineering, procurement and construction management contract to build the first phase of the smelter, are conducting the pre-feasibility study which EMAL CEO, Duncan ...  >>MORE

Sheikh Saud opens USD 150 mn Guardian RAK float glass plant

Posted on 29/10/2008

H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, officially inaugurated the new USD 150 million float glass plant of Guardian RAK at a function held at Al Jazeera Al Hamra in Ras Al Khaimah. The Guardian RAK plant, which began full production in September 2007, produces 700 tonnes of glass per day, used in automotive, commercial, residential and furniture applications. Speaking at the ribbon cutting ceremony, Sheikh Saud said, "We are very honoured that ...  >>MORE

EMAL installs first steel beam

Posted on 29/10/2008

Emirates Aluminium (EMAL) has installed the first structural steel for the pot rooms of the world's largest, single-site aluminium smelter complex currently under construction in Al Taweelah, Abu Dhabi. When complete, the EMAL pot rooms will comprise 32,000 tonnes of steel, supplied by Saudi Arabian company, HIDADA, and installed by their UAE subcontractor AMANA, both of whom attended the installation of the first structural steel at EMAL. The EMAL smelter is being built in two phases and ...  >>MORE

Finmeccanica and Mubadala create industrial partnership

Posted on 21/10/2008

Finmeccanica, the Italian leading aerospace company, and Mubadala Development Company (Mubadala), an Abu Dhabi-based business development and investment company, yesterday announced an agreement for a hi-tech industrial partnership. The Italian company will partner with Mubadala to manufacture aerospace composite components for civil aircrafts at the recently announced Abu Dhabi-based composites plant. Alenia Aeronautica, a subsidiary of Finmeccanica, will provide technology, technical ...  >>MORE

Borouge to build logistics hub in Guangzhou, China

Posted on 21/10/2008

Borouge, a leading provider of innovative, value creating plastics solutions, has signed a service contract with Enpro Supply Chain Management Limited to build the Borouge Guangzhou Logistics Hub in the Nansha area of Guangzhou, China. The contract ensures local logistics services for Borouge's customers in Asia for ten years with effect of the startup date of Borouge 2 in 2010. Enpro will undertake the design, development and subsequent operation of the logistics hub, in order to ensure ...  >>MORE

Emirates Steel sales revenue rises by 135%

Posted on 16/10/2008

The sales revenues of the Emirates Steel Industries (ESI), owned by Abu Dhabi Basic Industries Corporation (Adbic), have more than doubled in the first nine months of this year, with an increase of 135 per cent over the same period last year. Announcing the third-quarter financial results of ESI, Chairman Hussain Al Nowais, who is also Chairman of Adbic, said the company achieved a total sales revenue of Dh3 billion by the end of the third quarter compared to last year's figure of Dh1.3bn for ...  >>MORE

UAE's aluminium smelters target Europe

Posted on 21/09/2008

Dubai Aluminium Company Limited (Dubal) and Emirates Aluminium (Emal) will present a united front to the global aluminium industry at the 7th World Trade Fair and Conference which takes place in Messe Essen, Germany, from Sept.23 to 25. The combined exhibit will showcase the world-class stature and standards upheld by the two operations in the United Arab Emirates, while providing the opportunity to demonstrate the capacity of the companies' total production volumes to meet the growing demand ...  >>MORE

UAE's Dubai Investments Industries acquires stake in upcoming Saudi steel plant

Posted on 17/09/2008

UAE's Dubai Investments Industries (DII), a wholly owned subsidiary of Dubai Investments PJSC, yesterday acquired a 10% stake in Saudi Arabia-based South Steel Company - set to become one of the largest steel plants in the Gulf region. The move is aimed at consolidating its strategic expansion in the Middle East Scheduled to commence commercial operations from December 2010, the USD 350 million South Steel Company will have an initial capacity of one million tons per annum. The plant, being ...  >>MORE

Sharjah to have Dh120 million egg production project

Posted on 21/08/2008

The Sharjah Agriculture Development Corporation (SADC) has embarked upon a Dh120 million egg production project, which will occupy a total area of one million square foot. The project, to be executed in four phases over a period of two years at the Seeh Al-Lebsa area in Sharjah, will have a total output of 3,500 cartons of egg per day. According to Sheikh Faisal bin Khalid Al Qasimi, Proprietor and board chairman of the SADC, the project will help meet the local market demand and would, upon ...  >>MORE

UAE steel industry set for 235 per cent growth by 2012

Posted on 20/08/2008

The UAE steel industry is expected to grow by more than 200 per cent from the current levels by 2012, according to the latest market research report, UAE Steel Industry Analysis. The UAE is one of the most promising steel markets in the GCC region, where production reached 1.7 million tonnes in 2006. A construction boom, cheap and reliable gas and energy supply besides geographical positioning are the major driving forces for the steel industry in the UAE. The report focuses on the growing ...  >>MORE

Tabreed revenue up 42% at Dh173.37m

Posted on 14/08/2008

National Central Cooling Co (Tabreed) announced revenues of Dhs173.37 million for the second quarter of the 2008 financial year, a 42-per cent increase over the second quarter of 2007. The company posted gross profit of Dh76.35 million for the period, up from Dh58.23 million in the 2007 quarter. Tabreed's net profit increased to Dh23.5 million as compared to Dh12.72 million in the same quarter in 2007 and total assets increased from Dh4.51 billion to Dh6.83 billion over the course of the ...  >>MORE

Borouge awards contract to Agility for Shanghai logistic hub services

Posted on 10/08/2008

Borouge, a leading provider of innovative, value creating plastics solutions, has yesterday awarded a service contract to Agility (Abu Dhabi) PJSC to build the Borouge Compound Manufacturing Unit (CMU) and Shanghai Logistics Hub in Shanghai, China, and to provide local logistics services for Borouge's customers in Asia for a duration of 10 years with effect from its operational start up date in 2010. Following the contract win, Agility will undertake the design, development and subsequent ...  >>MORE

GE receives US$500m contract to supply power equipment for world's largest single-site aluminium complex

Posted on 31/07/2008

GE Energy has received a contract of more than US$500m to supply equipment to power the world's largest aluminium processing complex at a single site. The Emirates Aluminium (EMAL) production facility is located close to the Arabian Gulf near Al Taweelah, Abu Dhabi, in the United Arab Emirates (UAE). Using natural gas as its primary fuel, the power plant will feature Frame 9FA gas turbines, C7 steam turbines, heat recovery steam generators and condensers, all provided by GE Energy. When ...  >>MORE

Abu Dhabi's Agthia reports 94% growth in net profits

Posted on 31/07/2008

Agthia Group P.J.S.C., a leading Abu Dhabi based food and beverages group (ADX: Agthia) reported record financial results for the first half of 2008. The group reported 94% increase in net profits versus the first half of 2007 and 44% increase in sales over the same period last year. Following are the key highlights of Agthia's financial results: For the six months to June 2008, Sales grew to Dh385 million from Dh267 million, representing a growth of 44% over the same period last year. -Q2 ...  >>MORE

Japan's Kawasaki Heavy establishes subsidiary in UAE

Posted on 31/07/2008

Tokyo - Kawasaki Heavy Industries Ltd. set up its first foothold in the Middle East and Africa with the announcement of its first subsidiary in Dubai, the United Arab Emirates, the company said on Wednesday. The move is designed to beef up the Japanese company's operations in the fast-growing Middle East and North Africa. The company is looking to expand operations beyond plants, ships and machinery to include transportation systems. The Dubai unit, the company's first foothold in the Middle ...  >>MORE

DUBAL produces 10 millionth cumulative tonne of metal

Posted on 27/07/2008

Dubai Aluminium Company Limited (Dubal) - the world's seventh largest producer of high quality primary aluminium - has achieved a major production milestone, having produced its ten millionth cumulative tonne of hot metal mid-July this year. The company, which next year celebrates its 30th anniversary, began operating with three potlines offering an initial production capacity of 135,000 metric tonnes per year at its inception in 1979. Eight years later, in 1987, the first million cumulative ...  >>MORE

DUBAL publishes first sustainability report

Posted on 24/07/2008

Demonstrating its commitment to responsible corporate citizenship, Dubai Aluminium Company Limited (DUBAL) - the world's seventh largest producer of high quality primary Aluminium - has published the company's first-ever Sustainable Development Report. Designed to inform stakeholders about DUBAL's initiatives to safeguard the company's sustainability for the future, the report follows the internationally accepted guidelines detailed within the Global Reporting Initiative (GRI) Mining and Metal ...  >>MORE

Manufacturing sector grows 55% in five years

Posted on 17/07/2008

Growth in the UAE's manufacturing sector has jumped by 55 per cent since 2001 despite a decline in its overall contribution to the economy, latest government figures revealed. The contribution of the manufacturing sector to the gross domestic product (GDP) grew by more than half in the five years to 2006, according to findings by Dubai Chamber of Commerce and Industry. But the sector's share of the UAE's non-oil GDP dropped to 18.8 per cent in 2006 from 20 per cent in 2001. Meanwhile, non-oil ...  >>MORE

Emirates Glass begins work on new Dh175m plant

Posted on 13/07/2008

Work on a Dh175 million state-of-the-art plant and headquarters for Emirates Glass LLC (EGL) has begun at the Dubai Investments Park, the company announced yesterday. EGL, set up in 1998, is a leading processor of architectural flat glass in the Middle East and a subsidiary of Glass LLC, wholly owned by Dubai Investments (DI). The new facility will also house Lumiglass Industries – a sister concern. EGL is now nursing global ambitions, and eyeing a bigger pie of the international market for ...  >>MORE

ADBIC, Midal to build US$100 million aluminium rod plant in Abu Dhabi

Posted on 07/07/2008

Abu Dhabi Basic Industries Corporation (ADBIC), a leading industrial development company in Abu Dhabi, and Midal Cables Limited, one of the world's largest manufacturers of Aluminium rod and conductors, have signed a Memorandum of Understanding (MoU) aimed at establishing an Aluminium Rod plant in Taweelah, Abu Dhabi, with combined investment of approximately Dh368 million (US$100 million). The MoU was signed by Jamal Al Dhaheri, Senior Vice President Metals, ADBIC, and Hamid Al Zayani, ...  >>MORE

Tabreed reveals new business model to boost profitability

Posted on 30/06/2008

Tabreed, the Middle East's award-winning district cooling pioneer, will soon launch a major strategic revision to its existing business structure focusing on significant increase of future profitability. Tabreed will immediately form a new asset holding company into which existing assets will be transferred at a fair market value. "We are pleased to announce that there is a new emphasis on profitability and shareholder returns. The new business model will allow Tabreed to fund its growth while ...  >>MORE

Ducab and IAT join hands

Posted on 25/06/2008

Ducab, the leading manufacturer of high quality power cables in the Middle East, signed a Memorandum of Understanding (MoU) with the Institute of Applied Technology (IAT). The agreement will further enhance the career prospects of students at the IAT. It will provide training services and vacancies within Ducab that are in relation to the range of accredited programs that are offered to IAT students. Ducab's Managing Director Andrew Shaw, was present at the signing along with IAT's Managing ...  >>MORE

Oxo-biodegradable plastic additives to be produced

Posted on 17/06/2008

A UAE based company Eco-polymers has signed a contract with a British public limited company Symphony Environmental Ltd., appointing them exclusive distributors for Symphony's range of oxo-biodegradable plastic additives in the UAE. A factory will also be built to produce these products to meet the growing demand in the Middle East. Eco-polymers is a new company and has been established in Dubai and Sharjah. Ordinary plastic and recycled plastic can now be made oxo-biodegradable and this is ...  >>MORE

Mohammed bin Zayed attends the launch of Polymers Park project

Posted on 11/06/2008

Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, General Sheikh Mohammed bin Zayed Al Nahyan witnessed yesterday the launching of the Abu Dhabi Polymers Park project at the Abu Dhabi Industrial City (ICAD-III) in Mussafah. The ceremony was also attended by a number of dignitaries, including Abu Dhabi Ruler's Representative in the Eastern Region, Sheikh Tahnoun bin Mohammed Al Nahyan, Interior Minister, H.H. Sheikh Hamed bin Zayed Al Nahyan, Chief of Abu Dhabi Crown ...  >>MORE

UAE's first copper rod plant in Abu Dhabi inaugurated

Posted on 10/06/2008

Dubai Cables Co. Ltd. (DUCAB) has inaugurated its first copper rod plant and the new cable factory today morning at the Mussafah industrial area. The US$45 million copper rod plant, which is the first copper rod factory in the UAE, has a capacity of 110, 000 ton per annum. The two facilities were unveiled by Sheikh Hamed bin Zayed al Nahyan, Chairman of the Abu Dhabi Crown Prince Court and Chairman of the Higher Corporation for Specialised Economic Zones - ZonesCorp. A large number of ...  >>MORE

Polymers Park to be inaugurated tomorrow

Posted on 09/06/2008

Polymers Park, the first of a series of specialised industrial zones being set up by Abu Dhabi, is to be inaugurated tomorrow. The park will comprise a cluster of business engaged in the conversion of raw plastic materials into value-added products and has been set up by the Government-owned Abu Dhabi Basic Industries Corporation (Adbic). The project is aimed at developing the petrochemical industry to reduce the dependence on imports of goods produced with raw materials exported from here. ...  >>MORE

Cap on steel prices ruled out

Posted on 08/06/2008

The UAE government has ruled out any intervention in the markets to curb the price of reinforced steel, which is on an upward spiral. Mohammed Abdul Aziz Al Shehi, Undersecretary of the Ministry of Economy, told Emirates Business that the ministry will not move to fix the price of a tonne of steel, which currently ranges from Dh5,400 to Dh5,700 according to the country of origin. He added that the steel price hike is not a local or regional occurrence but a global phenomenon. "We will not ...  >>MORE

Dubal’s 2007 aluminium output up 12.6%

Posted on 08/06/2008

State-owned smelter Dubai Aluminium Co (Dubal) increased output by 12.6 per cent year-on-year in 2007 to 889,548 tonnes, spurred by robust domestic and global demand, a senior official said on Saturday. Middle East aluminium producers are shrugging off record-high global energy prices as they capitalise on cheap gas-generated electricity and a construction boom to boost world market share. Power bills account for about a third of an aluminium smelter's total costs. "The most recent ...  >>MORE

Tabreed reports Dh124.6 million revenues in Q1

Posted on 02/06/2008

National Central Cooling Company (Tabreed) announced revenues of Dh124.6 million for the first quarter of fiscal 2008 ended March 31. Tabreed's segmental results showed total revenue of Dh49.1 million generated from the company's core chilled water business in comparison with Dh40.3 million for the same quarter in 2007. The company posted gross profit of Dh66.5 million for the period, up from Dh62.2 million in 2007. Net profit declined to Dh10 million compared to Dh21.4 million in 2007 for ...  >>MORE

Sheikh Mohammed issues decree to manage quarries

Posted on 22/05/2008

Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum issued a decree to better manage quarries and crushers, and transport their products. HE Dr. Rashid Ahmed bin Fahad, minister of environment and water, said the decision aims at minimizing the negative effects resulted from the activities carried out at these factories. "We are taking all necessary measures to assure sustainable development," he added, emphasizing that the role of ...  >>MORE

Dubal to ship 100,000t of aluminium to Japan

Posted on 21/05/2008

Dubai Aluminium Company Limited (Dubal), the world's seventh largest producer of primary aluminium expects to ship 100,000 tonnes of aluminium to Japan in 2008, the majority of which will be billet (52 per cent), followed by high purity aluminium (25 per cent), foundry alloy (11 per cent) and standard purity (9 per cent). The firm will once again showcase the company's specialised alloy products that are used extensively by Japanese auto part manufacturers at the Automotive Engineering ...  >>MORE

GCC investing US$18 billion in new steel plants

Posted on 20/05/2008

More than US$18 billion is being invested in 46 steel manufacturing plants throughout the Arabian Gulf in an attempt to close the widening gap between supply and demand for steel - a major component for the construction industry as well as materials handling machinery for manufacturing, according to latest industry research. "While there is talk of a slowdown in other parts of the world, the growth in the Middle East manufacturing base continues to expand with demand for steel far outstripping ...  >>MORE

Hafilat Industries wins Dh30 million contract to manufacture buses for export

Posted on 19/05/2008

Hafilat Industries, the region's leading manufacturer of quality aluminium buses licensed by Australia's' Volgren, has won a Dh30 million contract to produce and export European-quality buses to Australia. Production will commence this month at Hafilat's 10,000sqm factory located in ICAD, Mussaffah, Abu Dhabi, and will take approximately four months to complete before the buses are exported to Australia, a company press release said Sunday. The contract states that Hafilat will build ...  >>MORE

Empower gets US$225 million credit facility

Posted on 15/05/2008

Emirates Central Cooling Systems Corporation (Empower) yesterday announced it has secured a US$225 million (Dh826m) credit facility from a consortium of reputed international and local banks and financial institutions led by the Royal Bank of Scotland (RBS). The agreement was signed, amongst others, by Ahmad bin Shafar, CEO of Empower, and Scott Barton, head of Global Banking and Markets - Middle East, Royal Bank of Scotland. The facility will enable Empower to fund its extraordinary growth and ...  >>MORE

Reem Emirates Aluminium launches an 80,000 square meter factory

Posted on 15/05/2008

Reem Emirates Aluminium LLC (REA), a company under the Royal Group Abu Dhabi, which is a conglomerate of more than 40 companies specializing in various industry sectors such as real estate, construction, media, landscaping, and information technology, announced the launch of their state-of-the-art factory and offices in Mussaffah yesterday. This purpose built factory and office in the shape of a wave has been constructed on multiple plots of land, encompassing an area in excess of 80,000 ...  >>MORE

Emal aims for a 'green' aluminium smelter

Posted on 11/05/2008

The high price of oil and massive liquidity in the Gulf due to windfall profits have fuelled the appetite for carbon capture – with the UAE leading the charge. Emirates Aluminium (Emal) – a joint venture between Abu Dhabi and Dubai to create the world's largest aluminium smelter – is the latest to join a growing green movement. Emal CEO Duncan Hedditch said the company was undertaking a feasibility study, together with Masdar, to create a carbon capture and storage (CCS) scheme. Emal, a ...  >>MORE

Emal set to generate US$2bn in sales yearly

Posted on 08/05/2008

Emirates Aluminium's (Emal) giant smelter in Abu Dhabi will generate US$2 billion (Dh7.34bn) every year once the plant begins full operations by the end of 2010, the company's chief said. The joint venture between Abu Dhabi Government's investment arm, Mubadala, and government controlled Dubai Aluminium (Dubal) is scheduled to produce 700,000 tonnes of aluminium per year, which will be increased to 1.4m tonnes in the second phase. Based on the current price of US$2,800 per tonne, revenue is ...  >>MORE

MoE, Cement Producers Group sign MoU to stabilise cement prices

Posted on 06/05/2008

The UAE Ministry of Economy (MoE) and the Cement Producers Group signed yesterday a Memorandum of Understanding (MoU) to implement the necessary measures to ensure availability of cement in the local market at reasonable prices. The move will enhance the national economy and boost the country's comprehensive development process. The MoU was signed by HE engineer Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Abdulla Mohammed Al Sayah, President of Cement Factories and Producers ...  >>MORE

New Chemicals Industrial City to be built at Khalifa Industrial Zone

Posted on 05/05/2008

The new planned Chemicals Industrial City will be located at Khalifa Industrial Zone (KPIZ) at Taweelah, Abu Dhabi, according to a Memorandum of Understanding (MoU) signed on Sunday by Abu Dhabi Ports Company (ADPC) and Borealis / Abu Dhabi Investment Council ADIC on behalf Chemaweyaat, an initiative developed by ADIC and the International Petroleum Company (IPIC) International Petroleum Company (IPIC). KPIZ is a central plank of "Plan Abu Dhabi 2030", and will play a major role in Abu Dhabi's ...  >>MORE

Steel prices in UAE hit Dh4,500 per tonne

Posted on 05/05/2008

Steel prices in the UAE increased by 12.5 per cent since March to record-high Dh4,500 per tonne. And an increase in regional steel production will have no impact on the soaring steel prices in the country, as the construction boom and cost of raw materials will only result in further rise, said traders. Meanwhile, a report published by MEED forecasts dramatic growth in the steel industry in the region. Despite only accounting for two per cent of the global steel trade, the Middle East steel ...  >>MORE

Chemaweyaat, Parsons to work on Complex-1 Project in Chemicals Industrial City

Posted on 03/05/2008

Chemaweyaat, the Abu Dhabi initiative developed by Abu Dhabi Investment Council and International Petroleum Company (IPIC) to realize Abu Dhabi Government's vision in further developing the Chemicals business Sector, signed Thursday a Letter of Intent (LoI) with WorleyParsons for commencing engineering and management services of the first Chemical Complex. The Complex will be the world's largest fully integrated Chemical Complex (Chemaweyaat - Complex-1 Project) in the planned new Chemicals ...  >>MORE

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Quick List

Emirates Aluminium's pre-feasibility study underway


Sheikh Saud opens USD 150 mn Guardian RAK float glass plant


EMAL installs first steel beam


Finmeccanica and Mubadala create industrial partnership


Borouge to build logistics hub in Guangzhou, China


Emirates Steel sales revenue rises by 135%


UAE's aluminium smelters target Europe


UAE's Dubai Investments Industries acquires stake in upcoming Saudi steel plant


Sharjah to have Dh120 million egg production project


UAE steel industry set for 235 per cent growth by 2012


Tabreed revenue up 42% at Dh173.37m


Borouge awards contract to Agility for Shanghai logistic hub services


GE receives US$500m contract to supply power equipment for world's largest single-site aluminium complex


Abu Dhabi's Agthia reports 94% growth in net profits


Japan's Kawasaki Heavy establishes subsidiary in UAE


DUBAL produces 10 millionth cumulative tonne of metal


DUBAL publishes first sustainability report


Manufacturing sector grows 55% in five years


Emirates Glass begins work on new Dh175m plant


ADBIC, Midal to build US$100 million aluminium rod plant in Abu Dhabi


Tabreed reveals new business model to boost profitability


Ducab and IAT join hands


Oxo-biodegradable plastic additives to be produced


Mohammed bin Zayed attends the launch of Polymers Park project


UAE's first copper rod plant in Abu Dhabi inaugurated


Polymers Park to be inaugurated tomorrow


Cap on steel prices ruled out


Dubal’s 2007 aluminium output up 12.6%


Tabreed reports Dh124.6 million revenues in Q1


Sheikh Mohammed issues decree to manage quarries


Dubal to ship 100,000t of aluminium to Japan


GCC investing US$18 billion in new steel plants


Hafilat Industries wins Dh30 million contract to manufacture buses for export


Empower gets US$225 million credit facility


Reem Emirates Aluminium launches an 80,000 square meter factory


Emal aims for a 'green' aluminium smelter


Emal set to generate US$2bn in sales yearly


MoE, Cement Producers Group sign MoU to stabilise cement prices


New Chemicals Industrial City to be built at Khalifa Industrial Zone


Steel prices in UAE hit Dh4,500 per tonne


Chemaweyaat, Parsons to work on Complex-1 Project in Chemicals Industrial City