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FINANCIAL NEWS
UAE’s Mubadala to build petroleum coke facility in China
01 Nov 2011
(MENAFN) Mubadala’s COO, Waleed Al Mokarrab Al Muhairi, said that in collaboration with China’s Jiangsu Surun High Carbon Company (Surun), the company would construct a petroleum coke facility in Zhenjiang, China, reported Arabian Business.
Al Muhairi added that Suyadi, the joint venture with the Chinese firm, would boost the company’s business growth and the UAE’s aluminum industry, moreover, it would help supply aluminum smelting plants in the UAE.
He also said that construction of the joint venture would be foretasted to start at the end of the year, whereas first exports would be expected to start by the end of next year.
It is worth noting that the UAE’s annual aluminum output reaches around 1.8 million tons through Dubai Aluminum Company Limited (DUBAL) and Emirates Aluminum Company Limited (EMAL).
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