Dubai: Investment Corporation of Dubai (ICD) yesterday announced the formation of Dubal Holding to look after ICD’s 50 per cent share in Emirates Global Aluminium (EGA), an entity created following the merger of Dubai Aluminium (DUBAL) and Emirates Aluminium Limited (EMAL).
Dubal Holding’s Board of Directors comprises of Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance (Chairman); Saeed Mohammad Ahmad Al Tayer (Vice Chairman); Khalifa Hassan Abdullah Al Daboos (Member); Abdul Wahid Mohammad Al Fahim (Member) and Hilal Khalfan Bin Dhaher (Member). Abdul Nasser Bin Kalban has been appointed Chief Executive Officer of Dubal Holding by Shaikh Hamdan Bin Rashid Al Maktoum.
The vision of Dubal Holding is to be the Dubai government’s industrial, energy and commodities investment and holding company; with the mission to create value for Dubal Holding’s shareholder and strategic partners through profitable and sustainable core business growth, both locally and internationally.
As part of its vision objectives, Dubal Holding will support the Dubai 2030 Integrated Energy Strategy as part of the Dubai Supreme Council of Energy; the company will be at the forefront of Dubai’s investments in commodities and other industrial projects; it will maintain standards of quality, efficiency, safety and environmental regulations in its operating companies; and help advance local and international energy and industrial infrastructure, along with commodities supply, which will contribute to the economic development and social progress of the emirate of Dubai while respecting the environment.
