Abu Dhabi: Emirates Global Aluminium has signed agreements at the Make it in the Emirates Forum that could lead to Dh1 billion of industrial investments in the UAE, the company said in a statement on Thursday.
EGA and Sunstone signed an agreement that could lead to the development of a new carbon anode manufacturing facility in the UAE (carbon anodes are consumed in the aluminium smelting process). Sunstone is the largest producer of carbon anodes in China.
According to its website, EGA produces some 1.2 million tonnes of carbon anodes every year at its own carbon plants in Jebel Ali and Al Taweelah, and the remainder of its need is currently imported.
Production from the new carbon anode manufacturing facility in the UAE would entirely replace these imports, and additional capacity could supply other aluminium smelters in the Middle East, the company said.
“These agreements are progress towards that goal, and I look forward to the development of these new industrial facilities in the UAE, creating jobs and contributing to prosperity,” said Abdulnasser Bin Kalban, CEO of EGA.
Lang Guanghui, Chairman of Sunstone, said: “The UAE is a strategic location for industrial investment, with industrial champion companies like EGA and access to the wider Middle East region. We look forward to progressing this project, growing our international operations and contributing to the UAE’s economy.”
EGA also signed an MoU with VCI, an Indian disinfectant and carbo-chemicals producer, that could lead to the development of a pitch melting and processing facility in the UAE. This facility would be the first of its type in the region.
Liquid pitch is a raw material in the production of carbon anodes for aluminium smelting, and is also increasingly used in the manufacture of batteries for electric vehicles.