(MENAFN) Emirates Global Aluminum announced it is planning to invest USD3 billion in building an alumina refinery in Abu Dhabi, Gulf Business reported.
The new alumina refinery is expected to be operational by the end of 2017, and the alumina, extracted from bauxite in the refining process, will be used to produce primary aluminum.
"We are building the refinery to secure our own important materials, the refinery would ultimately produce 4 million tons annually," Emirates Global Aluminum Chief Executive said.
Emirates Global Aluminum is currently the world's fifth-largest aluminum company and is valued at about USD15 billion.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.