Dubal buys stake in in China firm
Dubai, March 10, 2013
Dubai Aluminium Company (Dubal) has bought a 20 per cent stake in a calciner development project in China, said Zawya Dow Jones report.
The move is aimed at securing raw materials supply and mitigate quality concerns, the state-owned firm was quoted as saying by the report.
The stake was purchased as part of a joint venture with Sinoway Carbon Energy Holdings, Hong Kong, for an undisclosed sum, Dubal said, according to the report.
The new venture, known as Sinoway Carbon Company, plans to build a 560,000 tonnes per annum calciner in Shandong, it said.