Emirates Global Aluminium PJSC (EGA) signed an agreement with ITOCHU Corporation of Japan last week to explore collaboration on joint projects in the United Arab Emirates that will help the country further the aims of its Operation 300bn domestic industrial growth strategy.
The two firms have a history of collaboration for over three decades consisting mainly of ITOCHU marketing EGA’s aluminium to Japanese buyers both foreign and domestic. Among the projects contemplated under the arrangement are processing EGA’s aluminium into super-high purity aluminium for bespoke applications and recycling of copper used by EGA.
Other projects contemplated by the firms include Industry 4.0 projects as well as developing new aluminium alloys for specialized applications.
Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said in a press release that his firm is eager to continue their longstanding partnership with ITOCHU.
“EGA and ITOCHU have worked together for decades, and we are pleased to now explore how we can expand this relationship to new industrial activities and opportunities here in the UAE that would add value to our businesses. To more than double the size of the UAE’s industrial sector by 2031, our nation needs to develop new industrial capabilities. Working in partnership with other global companies like ITOCHU will help EGA accelerate our contribution to Operation 300bn.”
Kenji Seto, Executive Officer and President, Metals & Minerals of ITOCHU, said that the partnership continues to be mutually beneficial for both parties.
“ITOCHU and EGA have a strong partnership and we are pleased to now be exploring joint projects in the UAE with the largest ‘premium aluminium’ producer in the world. Our aim is to leverage the strengths of each company to progress these projects and create value for us both as well as for the UAE as a nation.”
Based in Abu Dhabi, United Arab Emirates, Emirates Global Aluminium is an aluminium conglomerate created by the merger between Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL) in 2013. EGA had an estimated enterprise value of US$15 billion at the time the merger took place. The firm is owned equally by Mubadala Development Company of Abu Dhabi and Investment Corporation of Dubai. Emirates Global Aluminium holds interests in bauxite/alumina and primary aluminium smelting.
