Abu Dhabi Basic Industries Corporation (Adbic) has signed a memorandum of understanding (MoU) with Bahrain-based Midal Cables to invest an estimated $100 million (Dh36.7m) in building an aluminium rod plant at Taweelah in Abu Dhabi.
Under the MoU, the two companies will build a 150,000-tonne a year plant for aluminium rods that will be converted locally into value-added products or supplied to downstream industries, with the remainder to be exported. Molten aluminium metal for the project will be sourced from the new 700,000 tpa Emirates Aluminium (Emal) smelter currently under construction at Taweelah in Abu Dhabi.
The plant will be ready to receive the first batch of molten metal from the Emal smelter and commence commercial production in 2010.
The MoU was signed at Adbic by Jamal Al Dhaheri, Senior Vice-President Metals, Adbic, and Hamid Al Zayani, Managing Director of Midal Cables.