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.
More Industry, Logistics & Shipping Stories
- Yokogawa wins big order for Saudi desal plant
- Alba on track for record year
- App-controlled car booking to launch in Riyadh
- Bike sharing system launched at Gulf Traffic
- UAE-China trade surges 14pc
- Oman Oil Company unit plans industrial gas JV
- Etihad Cargo implements XML standard
- DI subsidiaries shine at ‘Made in UAE’ expo
- GAC unveils new hull cleaning solution
- Cathay to operate cargo from Al Maktoum airport