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FINANCIAL NEWS
Taweelah to set up extrusion plant in Abu Dhabi
16 Dec 2011
(MENAFN) Taweelah Extrusion Co (Talex) unveiled plans to build a USD200 million extrusion plant at Khalifa Industrial Zone Abu Dhabi (Kizad), Reuters reported.
Emirates Aluminum (Emal), which is also set up in Kizad, will provide the new plant with molten aluminum.
Talex, a joint venture between Abu Dhabi Basic Industries Corp and Gulf Extrusions, expects to start commercial production for the automotive markets in the fourth quarter of 2013.
Some 30 companies have signed agreements to establish themselves at Kizad, and expected to approve nearly 100 more.
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