Wednesday, Apr 23rd

Last update11:33:54 AM GMT

You are here: Smart Projects Construction GCC’s aluminium investments reach around USD 30 billion

GCC’s aluminium investments reach around USD 30 billion

ALUMINIUM DUBAI to draw more industry funds to the region

January 17, 2011

Investments into the Gulf’s aluminium industry are currently estimated at around USD 30 billion and could reach as much as USD 55 billion by 2020 due to upcoming smelter expansions and new projects. A fully-integrated aluminium industrial complex being built as a joint venture between Alcoa and Saudi Arabian Mining Co. (Ma’aden) alone involves a capital investment of approximately USD 10.5 billion.

More foreign investors are looking to the Gulf for aluminium business due to its inexpensive gas stocks and strategic geographic location, with Europe already sourcing around 6 per cent of its aluminium demand from the region.  The UAE and Saudi Arabia rank among the Gulf’s two biggest aluminium markets. Smelting operations managed by Dubai Aluminium Company Ltd. (DUBAL) and Emirates Aluminium in Abu Dhabi produce around 1.8 million tons of aluminium per year or 40 per cent of total annual Middle Eastern production.

More investment opportunities in the region will be revealed during ALUMINIUM DUBAI, the local version of Reed Exhibitions’ global series of aluminium events which also includes ALUMINIUM India, ALUMINIUM China and ALUMINIUM Germany. The 2nd edition of ALUMINIUM DUBAI, the premier exhibition for aluminium products, technologies and investments in the Middle East, will again serve as an investment catalyst as it runs from May 9 to 11, 2011 at Sheikh Saeed Halls 2 and 3 of the Dubai International Convention and Exhibition Centre (DICEC).

“Aluminium has emerged as one of the key economic activities of the Arab World and complements region wide efforts to diversify national development beyond oil and gas. Our sector contributes significantly to foreign trade, job creation and economic expansion and there are more rooms to expand its scope, facilities and capabilities. ALUMINIUM DUBAI is a vital platform for us to showcase the business and investment opportunities the region offers to the global stage and maintain our lead in the international markets,” said Mahmood Daylami, General Secretary, Gulf Aluminium Council.

“We have been working closely with the government and private sectors to make sure that we provide a clear and accurate depiction of current market trends, best practices and opportunities during the show. Our goal is to provide reliable information as basis for local, regional and international investments and as support for the aluminium industry’s stakeholders,” added Tarek Ali, Show Manager, ALUMINIUM DUBAI, Reed Exhibitions.

Last year’s inaugural show welcomed 165 exhibitors from 23 countries and over 3,000 visitors from 61 countries, 73 per cent based in the region. Around 98 per cent of guests occupied key managerial positions in their respective companies. This year’s edition already has 81 confirmed companies so far, with more expected to follow from neighboring countries.

EMAL, DUBAL, SMS Metallurgy, FATA Spa, Gulf Extrusions and other pioneering participants of ALUMINIUM DUBAI are coming back in 2011 to elaborate on their expansion plans and investment offerings. Interested parties are invited to visit www.aluminium-dubai.com for more event details.