Dubai : Government-owned Dubai Aluminium Company (Dubal) yesterday posted a profit of Dh1.1 billion for 2009, WAM reported.
The aluminium smelter company announced sales revenues of Dh6.89 billion for the year during an annual general assembly that was held yesterday and chaired by Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the Board, Dubal.
Production increased by 7 per cent in 2009 over 2008, exceeding the one million tonne mark. Sales rose 8 per cent, the report said.
Abdullah Jasem Bin Kalban, president and chief executive, said 80 per cent of the work on the Emirates Aluminium Smelter (Emal) at Al Taweelah, Abu Dhabi has been completed.
Emal's $5.7 billion aluminium smelter and the world's largest green field project of its kind is a strategic joint venture between Dubal and Mubadala Development Company.
He added that the first phase of the project including the 2000 megawatt power station was operational.
At an aluminium conference held in Dubai, Kalban said the new project's production capacity for 2010 is at 101,500 million tonnes. He added that 30,000 million tones of aluminium were produced during 2009.
The project is split in two phases, each bringing a 750,000-million ton capacity when complete. While the first phase has started operations, the second phase is said to be complete in 2013.
Kalban said a decision on the cost of the second phase would be taken sometime this year as feasibility studies are still in progress.
