New global player combining operations of DUBAL and EMAL will rank in top tier of leading producers worldwide
Mubadala Development Company of Abu Dhabi and the Investment Corporation of Dubai today announced the official incorporation of Emirates Global Aluminium (EGA), the jointly-owned, Abu Dhabi based aluminium champion, formed by integrating the two shareholders’ respective aluminium interests.
The company will be managed by a board of directors that will be chaired by H.E. Khaldoon Khalifa Al Mubarak, while H.E. Saeed Mohammed Ahmed Al Tayer will become its vice-chair. The board will also include H.E. Dr. Sultan Al Jaber; Abdulla Kalban; Khaled Al Qubaisi; Ahmed Yahia Al Idrissi; Abdul Wahed Mohammad Al Fahim; and Khalid Al Bakhit.
EGA’s core operating entities are Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL), whose combined annual production currently accounts for 50 per cent of the total primary aluminium produced within the Gulf Cooperation Council region. With EGA’s primary aluminium production set to reach 2.4 million tons per annum by mid-2014, the company will join the ranks of world’s top aluminium producers.
EGA also owns Guinea Alumina Corporation (GAC), a strategic bauxite mining and alumina refining development project in the Republic of Guinea. The company plans to continue expanding along the aluminium value chain, from smelting to alumina refining and bauxite mining; and will also support the continued growth of the aluminium cluster in the UAE.
Abdulla Kalban, CEO and Managing Director of EGA said, “I would like to extend our gratitude to the shareholders for their support in establishing this global business. This is a proud day for EGA’s highly-skilled employees, who represent a company led by UAE Nationals using technology that is unique to our company and the industry. Combining the strengths of DUBAL and EMAL creates a national champion for technological innovation and business performance excellence.”
“We will continue to build on a successful track record, with global expansion of our operations and further development of the aluminium cluster in the UAE, supporting an estimated 33,000 jobs by the end of the decade,” added Kalban. “On behalf of the EGA Board, I want to convey their appreciation to all our employees in the UAE, in Guinea and elsewhere around the world, whose combined efforts will drive the business forward.”
Saeed Al Mazrooei, the company’s CEO of UAE Operations, said: “Although today we celebrate a new beginning as one of the UAE’s youngest companies, the track records of DUBAL and EMAL mean that EGA is blessed with a heritage of world-class operations and a record of sustaining the highest levels of environmental, health and safety standards. As we move the business forward to its next stage of development, this track record is one we are determined to build upon.”