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FINANCIAL NEWS
Al-Braik Investments to build USD200m silicon smelter in Abu Dhabi
25 Mar 2013
(MENAFN) Al-Braik Investments announced that it has obtained the approval to establish a USD200 million silicon smelter in Abu Dhabi, reported Arabian Business.
The Dubai-based firm added that the smelter, the first of its kind in the GCC, would produce high-grade silicon metal, and would be completed in 3 years.
The company will establish 2 furnaces with a combined annual output capacity of 33,000 tons that would be increased the double by 2019.
It is worth noting that as Abu Dhabi is planning to diversify its economy in order to lower dependence on oil revenues, the emirate is investing heavily in industry, tourism and infrastructure.
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