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dubal- mubadala jv to develop 700,000 tonne aluminium smelter in saudi arabia.

Dubai Aluminium Company Limited ("DUBAL") and Mubadala Development Company The Mubadala Development Company (Arabic:شركة مبادلة للتنمية) is a state owned company of the Abu Dhabi government in the United Arab Emirates.  PJSC PJSC Public Joint Stock Company
PJSC Private Joint Stock Company
 ("Mubadala") have today signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment.  with Saudi Arabian General Investment Authority THIS ISN"T THE CORRECT LOGO.

SAGIA (ساقيا - الهيئة العامة للاستثمار)
 ("SAGIA SAGIA Saudi Arabian General Investment Authority ") and Emaar, The Economic City ("Emaar E.C.") regarding the green-field development of an aluminium smelter complex in King Abdullah Economic City Wikipedia is not the place for advertisement or self-advertising. King Abdullah Economic City (Arabic: مدينة الملك عبدالله , Saudi Arabia. Should it proceed, the US$5 billion-plus project will entail feasibility and environmental impact studies prior to the development and construction of the proposed aluminium smelter complex and associated infrastructure. DUBAL and Mubadala's responsibilities will be fulfilled by EMAL EMAL Electron Microbeam Analysis Laboratory  International, a joint vehicle owned equally by the two companies.

The initial production design capacity of the proposed smelter will be approximately 700,000 metric tonnes per annum ("mtpa"), complemented by a purpose-built power utility capable of providing a guaranteed, uninterrupted long-term supply of the power required to properly and fully operate the proposed smelter. The development will feature DUBAL's proprietary smelter technology and will leverage the company's project management skills, operational efficiency and global market position. The project will benefit from Mubadala's expertise in structuring and financing multibillion dollar projects, as well as DUBAL's superior industry knowledge and best-in-class practices in the areas of health, safety and environment.

It is estimated that the project could create about 2,500 direct employment opportunities within the completed smelter complex; as well as spawning a substantial number of indirect employment opportunities (a multiplier effect of approximately two times is anticipated). Moreover, the smelter project would strongly boost Emaar E.C's drive to develop industrial zones within the King Abdullah Economic City, ultimately attracting downstream investments in the aluminium industry, and resulting in further job creation and GDP GDP (guanosine diphosphate): see guanine.  development for the Kingdom of Saudi Arabia.

SAGIA has expressed its commitment to supporting the hiring and training of a Saudi workforce for the project. The knowledge, experience and skills of expatriate workers would be leveraged in commissioning and initial operation of the smelter complex, with a view to the transfer of the requisite skills to the Saudi workforce.

Emaar E.C. has indicated its willingness to identify a 4 square-kilometre site within the industrial zone of King Abdullah Economic City that is not only suitable for the development of the smelter, but which also offers good access to suitable deep water port, utilities and all road transport links. Should the project go-ahead, Emaar E.C. would also help provide temporary and permanent accommodation for the construction and project personnel; and would include adequate healthcare facilities, schools and other social infrastructure requirements in the overall development of King Abdullah Economic City.

"DUBAL's involvement in this project is extremely gratifying grat·i·fy  
tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies
1. To please or satisfy: His achievement gratified his father. See Synonyms at please.

, as it pays tribute to the wealth of experience and advanced technologies developed by our company over the past 28 years of so," says DUBAL CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Abdulla Kalban.

Mubadala's CEO and Managing Director, H E Khaldoon Khalifa Al Mubarak, adds, "Both Mubadala and DUBAL enjoy the capabilities and resources to design, implement and run a project of this magnitude. The combined strengths of our two companies will ensure the delivery of a world-class project."

About Dubai Aluminium Company - DUBALDUBAL is ranked as the seventh largest producer of primary aluminium in the world, and currently ranks as the largest single-site aluminium smelter complex in the Western world and is also the single largest non-oil contributor to the economy of Dubai. Built on a 480-hectare site in Jebel Ali, Dubai, UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. , DUBAL's major facilities comprise an 890,000 mtpa primary aluminium smelter, a 2,100 megawatt power station, a large carbon plant, three casthouses, a 30-million-gallon-per-day water desalination plant, laboratories, port and storage facilities.

The company has the capacity to produce more than 900,000 metric tonnes of high quality finished aluminium products a year, in three main forms: foundry alloy for automotive applications, extrusion billet for construction purposes and high purity aluminium for the electronics industry. A dynamic growth strategy will increase annual production volumes of metal to almost one million metric tonnes by 2008.

DUBAL serves 280 customers in 44 countries predominantly in the Far East, Europe, the ASEAN ASEAN: see Association of Southeast Asian Nations.
 in full Association of Southeast Asian Nations

International organization established by the governments of Indonesia, Malaysia, the Philippines, Singapore, and Thailand in
 region, the Middle East and Mediterranean region, and North America. The company holds ISO (1) See ISO speed.

(2) (International Organization for Standardization, Geneva, Switzerland, An organization that sets international standards, founded in 1946. The U.S. member body is ANSI.
 9001, ISO/TS 16949, ISO/IEC ISO/IEC International Organization for Standardization/International Electrotechnical Commission (ITU-T M 3000)  27001, ISO 14001 and OHSAS OHSAS Occupational Health and Safety Management System
OHSAS Occupational Health & Safety Assessment Series
OHSAS Occupational Health and Safety Assessment Scheme (UK) 
 18001 certification; and has twice won the Dubai Quality Award in the Production and Manufacturing sector (1996 and 2000).

About Mubadala Development CompanyMubadala is an investment and development vehicle established and wholly owned by the Government of the Emirate e·mir·ate  
1. The office of an emir.

2. The nation or territory ruled by an emir.

Noun 1. emirate - the domain controlled by an emir
 of Abu Dhabi. Its mission is to invest in commercially-viable, strategic, industrial and commercial partnerships.

The company manages a diversified portfolio of local, regional, and international investments. International investments include the Dutch fleet management giant LeasePlan Corporation (25 per cent stake), and a stake in nine oil exploration blocks in Libya. Stakes are also held in the Swiss aircraft and engine services provider SR Technics tech·nic  
1. technics (used with a sing. or pl. verb) The theory, principles, or study of an art or a process.

2. technics (used with a pl. verb) Technical details, rules, or methods.

 (40 per cent), the Italian luxury car manufacturer Ferrari (5 per cent), and Piaggio Aero Industries (35 per cent).

In the United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman.  and wider Gulf region, Mubadala has invested in, and developed, a number of leading projects including the first GCC cross-border natural gas project, Dolphin Energy (51 per cent majority stake), Aldar Properties, Abu Dhabi Future Energy Company (Masdar), Tabreed, Abu Dhabi Ship Building, Imperial College London History
Imperial College was founded in 1907, with the merger of the City and Guilds College, the Royal School of Mines and the Royal College of Science (all of which had been founded between 1845 and 1878) with these entities continuing to exist as "constituent colleges".
 Diabetes Centre in Abu Dhabi, Injazat Data Systems and the Mukhaizna Oil Field developments in Oman. Mubadala is also pleased to be leading the development of the UAE University's new campus in Al Ain City through a public-private partnership initiative.

About EMAL InternationalEstablished by DUBAL and Mubadala Development Company ("Mubadala"), EMAL International is set to become a significant global aluminium player through developing and acquiring both upstream and midstream activities while promoting downstream opportunities in the aluminium industry. The company provides a vehicle for the two companies to explore in detail various investment opportunities along the entire aluminium supply chain - such as alumina production; investment in existing production capacity; and the joint development of green-field smelters in the Middle East and North Africa ("MENA MENA Middle East & North Africa
MENA Middle East News Agency (Arabic Wikalat Al-Anbaa' Al-Sharq Al-'awsat)
MENA Medium-Energy Neutral Atom
MENA Mammalian Enabled
MENA Mission Element Need Analysis
") region as well as further a field around the world.

About Saudi Arabian General Investment Authority - SAGIASAGIA is the Saudi Government agency responsible for promoting investments into the Kingdom of Saudi Arabia, managing its investment environment and managing the "economic cities" concept. SAGIA is headquartered in Riyadh.

About Emaar, The Economic City:Emaar the Economic City (Emaar.E.C), established in September 2006, is a Saudi joint stock company managed by Emaar Properties PJSC, one of the world's largest property developers, and a number of high profile investors from Saudi Arabia. Emaar.E.C has a share capital of SR8.5 billion consisting of 850 million shares of nominal value SR10 each. Thirty per cent of the equity, worth SR2.55 billion, was offered for public subscription.

Emaar.E.C leads the master-planning and development of the 168 million sq m King Abdullah Economic City (KAEC KAEC King Abdullah Economic City (Saudi Arabia)
KAEC Kentucky Association of Electric Cooperatives, Inc.
), a project being built on a pristine location off the Red Sea in the north of Jeddah. SAGIA (Saudi Arabian General Investment Authority), the body responsible for inward investments into the Kingdom, is the prime facilitator for KAEC.

KAEC, a New Age City being built today for tomorrow's generation of Saudi citizens, has seven components - sea port, industrial district, educational zone, central business district with commercial, mixed-use, retail outlets and financial island, resorts and residential area.

The mega-project works closely with the Kingdom's on-going drive to expand the economy, create employment opportunities for its youthful population and function as a catalyst to attract foreign investment, global trade, commerce and industry. Based on initial forecasts, the project and its several components will create up to one million employment opportunities in the various industries and service-oriented companies that will open in KAEC. It will also be home to 2 million residents.

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Date:Jan 31, 2008
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