Emirates Aluminium Rolling (Emiroll) is set to invest about AED440m ($119.7m) for the construction of an aluminium rolling plant in the Khalifa Industrial Zone Abu Dhabi, UAE.
Emiroll is a joint venture between Dubal Holding with a 35% stake, Dubai Investments with a 30% holding, and Singapore-based industrial group MARS with the remaining 35% stake.
The plant, spread out on 900,000 sq ft of land, will be used to manufacture 65,000 tonnes of aluminium coils annually, comprising 45,000 tonnes of cold-rolled and 20,000 tonnes of hot-rolled aluminium for applications in downstream industries.
Construction of the plant will commence soon, with the facility expected to be operational by the third quarter of 2017.
Dubal Holding CEO Abdulnasser Bin Kalban said: “Dubal Holding has kept its focus firmly on a diverse growth strategy, and this joint venture with Dubai Investments and MARS for Emiroll aims at creating new demand for aluminium in the rapidly-growing downstream industries across the region.
“Dubal Holding’s stake in Emiroll is a significant milestone in its growth plans, as it seeks to strengthen its presence in aluminium sector globally.”
* For more on Timetric's analysis of construction trends in the UAE, click here.