GCC plans record aluminium production by 2014
Dubai, January 22, 2013
With global demand for aluminium estimated to increase and reach 70 million metric tons per year by 2020, GCC countries are all set to boost their production capacity to 5 million metric tons by 2014, up 40 per cent from around 3 million tons in 2012, said an expert.
The GCC region has been a key aluminium producer and is set to account for 13 per cent of the world’s total aluminium production by year end, driven mainly by aggressive investments in the region’s aluminium industry, including construction of new smelters and the expansion of the pipeline network that has further reinforced the region’s position in the global market, remarked Mohammed Bader-Eddin, the show director of the upcoming 'Aluminium Middle East' expo.
A leading exhibition for aluminium products, technologies and investments in the region, Aluminium Middle East, will be held from April 23 to 25 at Dubai International Convention and Exhibition Centre (DICEC).
According to Bader-Eddin, the Gulf region has all the right components to truly become a key player in the global aluminium production business.
"GCC countries are currently working hard to achieve their future aspirations and consolidate their leading position in the region and the world by primarily increasing their annual productivity and adding new capacity, while adopting the latest advanced technologies and the highest standards in sustainability and environmental conservation," he added.
Gulf producers tend to take their aluminium production capacity even further to address the strong demand, particularly within the GCC region, leveraging its strategic advantages including its easy access to low-cost raw materials and proximity to major aluminium markets in Europe, the US and the Far East.
As estimated by the Gulf Aluminium Council, around 80 per cent of produced aluminium in the Gulf is exported to different parts of the world, reaffirming the GCC’s vital role to meet local, regional and global demand.
In 2011, a number of new aluminium smelters and manufacturing companies were established in Saudi Arabia and the UAE to drive further growth and establish the Gulf as a major player in the global aluminium industry.
On the other hand, the Gulf’s aluminium investments are seeing significant movement and could hit $55 billion by 2022, with $22 billion in the UAE, $7 billion in Saudi Arabia and Kuwait and $5.7 billion in Qatar.
The recent activities in the industry, including the establishment of new smelters and production units, and efforts by manufacturing companies to expand the pipeline network, have had a great effect in promoting aluminium production and other related industries in the region.
As part of the efforts to increase the Gulf’s global market share and create lucrative investment opportunities across the aluminium industry in the region, a select group of local, regional and international investors, experts and businessmen are set to discuss some of the prominent industry concerns, trends and investment opportunities during the expo.
Formerly known as Aluminium Dubai, the third edition of the event follows the huge success and the momentum generated during the previous first two editions, as it serves as an ideal platform to showcase promising investment opportunities and benefit from best international practices and the latest in aluminium products, technologies and investments.
"Aluminium Middle East' will provide a world-class interactive platform for key industry players to look into the latest developments and tech-savvy innovations, as well as discuss investments in new smelters and expansion plans across local and regional markets," said Bader-Eddin.
The event is being held every two years and is regarded as the leading regional exhibition for aluminium products, technologies and investments in the Middle East.-TradeArabia News Service