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FINANCIAL NEWS
Dubai Aluminum agrees to by 20% of China calciner JV
09 Mar 2013
(MENAFN) Dubai Aluminium (Dubal) has agreed to buy a 20 percent stake in China-based calciner development joint venture, Arabian Business reported.
The Sinoway Carbon Company Limited, part of a joint venture with Sinoway Carbon Energy Holdings, entails the construction of a 560,000 tonnes per annum calciner in Shandong, China.
The end-product of the calcination process, calcined petroleum coke (CPC), is a strategic raw material for the aluminium smelting industry.
As part of the agreement, Dubal will be entitled to an annual off-take volume of CPC for its smelting operations.
Abdulla Kalban, Dubal’s president and CEO, said that the aluminum smelting process is extremely sensitive to CPC quality, especially in terms of anode life and sulphur emissions.
He added that good quality GPC is necessary to produce the quality of CPC required by Dubal, and China’s GPC is well within this range.
Dubal exports more than 88 percent of its annual production to over 57 countries across the globe.
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