By Haseeb Haider www.khaleejtimes.com
Abu Dhabi is planning to build an aluminium plant in Khalifa Industrial Zone, a top official said.
Jamal Al Dhaheri, Chief Executive Officer of Abu Dhabi Basic Industries Corporation or ADBIC, which is part of Abu Dhabi’s industrial arm General Holding Company, expected to make public details on the new joint venture facility in two weeks.
In November, 2007, the company hinted to setup a 550,000 metric tonne capacity smelter in collaboration with a leading industry leader.
Taking part in a panel discussion on ‘Diversification: Defining Abu Dhabi’s economic outlook’ at the 4th UAE Global Investment Forum, the chief executive ADBIC said that industry will contribute 25 per cent to the emirate’s gross domestic product in 2030.
Abu Dhabi Ports Company, which is building the Khalifa Industrial Zone or KIZAD in Taweelah, said it will establish a cluster for Aluminium’s downstream industries at the zone in next 5-10 years.
Khaled Salmeen, executive vice president of Industrial zone at ADPC told investors that the company will spend Dh8 billion to develop the industrial zone being built in Taweelah area, this year. The first phase will be ready in the fourth quarter of 2012 and will account for 15 per cent of the emirate’s non-oil economy within 20 years.
Abu Dhabi Ports expects to announce this month the first company to set up in the zone, Khaled Salmeen. The unnamed company, a public- private joint-venture aluminium project, will invest Dh715 million in the zone, he said. He said that the total cost of the first phase is Dh26.4 billion and will be ready in the fourth-quarter of 2012.
Taking part in the discussion, Fahad Al Raqbani, the director general of Abu Dhabi Council for Economic Development said that Abu Dhabi’s industrial landscape has rapidly changed in the recent year as its major steel plant has doubled its output with further capacity increases plans underway, while an Aluminium smelter, one of the largest in the world, has recently gone into commercial production.
He told a business executive said Abu Dhabi is not competing with Dubai, as both are complimentary to each other.
“If something happens in Dubai it effects Abu Dhabi and something happens here affects Dubai,” Al Raqbani said. Meanwhile, Abu Dhabi Ports will visit Mumbai, India and Seoul in South Korea this month to attract investment into the industrial zone.