In the annual general meeting of DUBAL Holding LLC, on Wednesday, March 25, H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, praised the company’s good operational performance during 2019. He also mentioned Dubal’s 50 per cent subsidiary firm EGA and its great performance despite huge challenging market conditions and drop in aluminium price on the global stock exchange.
Sheikh Hamdan briefed on the production performance of EGA Al Taweelah Alumina Refinery, which commenced production in April 2019 and recorded an output of 1.1 million tonnes during the year. While briefing on EGA’s bauxite mining project at the Republic of Guinea, he mentioned that it started in August 2019 and mined a total of 1.7 million tonnes in the year.
He also spoke about the various other ongoing projects of Dubal Holdings, such as the implementation of the 625MW CCGT Power Block and 9 MIGD RO desalination project at EGA. He said on the aluminium downstream front, efforts are progressing on expanding operational specialised aluminium extrusion in the UAE.
Besides, the implementation of Dubai Municipality’s Waste-to-Energy Project at Warsan to treat 1.82 million tonnes of solid waste each year is also on track, said Sheikh Hamdan.
The annual general meeting was also attended by Saeed Mohammed Al Tayer, Vice Chairman of DUBAL Holding, the DUBAL Holding board members, directors, representatives of the shareholder from Investment Corporation of Dubai (ICD), and auditors.
Saeed Mohammed Al Tayer said, "We strive to achieve the directives of our wise leadership to strengthen the UAE's position in the global economy. DUBAL Holding has a key role in supporting and diversifying the national economy and contributing to a brighter future in the UAE and the Emirate of Dubai. With 2.60 million tonnes of cast metal sales during the year, EGA remains the third-largest producer of primary aluminium in the world outside China.”
Abdulnasser Bin Kalban, CEO of EGA, said: "DH is actively pursuing the development of a UAE based integrated aluminium rolling facility (low CO2 produced aluminium), and a battery storage plant to support infrastructure and investment strategy for a potential future assembly line for an electrical vehicle facility to support the UAE Green Economy. Among the projects under study are an integrated scrap recycling facility and a facility for the production of cast aluminium wheels."
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