Aluminium industry to become key non-oil contributor

Dubai: Fall in oil prices is benefiting the regional aluminium industry and it is expected to become one of the key non-oil contributors in the future, said an industry expert.

“Investments in the sector are expected to reach $55 billion [Dh202 billion] by 2020 compared to $40 billion in 2014,” said Daniyal Qureshi, group exhibition director at Reed Exhibitions Middle East, organisers of the event.

He said that global industry experts have projected continued growth in aluminium exports from the UAE over the long term.

Aluminium is the “metal of choice for regional players” as it can be recycled 100 per cent with minimal resources.

“Fall in aluminium prices will reduce the cost of manufacturing and the demand will increase. The expansion of smelters is massively driven by demand from the massive infrastructure and construction projects in the region,” he said.