Investments into the Gulf’s aluminium industry are currently estimated at around $30 billion and could reach as much as $55 billion by 2020 due to upcoming smelter expansions and new projects, a report said.

A fully-integrated aluminium industrial complex being built as a joint venture between Alcoa and Saudi Arabian Mining Co. (Ma’aden) alone involves a capital investment of approximately $10.5 billion, according to the organisers of Aluminium Dubai, the upcoming premier exhibition for aluminium products, technologies and investments in the Middle East.

More foreign investors are looking to the Gulf for aluminium business due to its inexpensive gas stocks and strategic geographic location, with Europe already sourcing around 6 per cent of its aluminium demand from the region, the report stated.

The UAE and Saudi Arabia rank among the Gulf’s two biggest aluminium markets. Smelting operations managed by Dubai Aluminium Company (Dubal) and Emirates Aluminium in Abu Dhabi produce around 1.8 million tons of aluminium per year or 40 per cent of total annual Middle Eastern production.

More investment opportunities in the region will be revealed during Aluminium Dubai, the local version of Reed Exhibitions’ global series of aluminium events which also includes Aluminium India, Aluminium China and Aluminium Germany.

The 2nd edition of the event will be held  from May 9 to 11, at the Dubai International Convention and Exhibition Centre (Dicec).

“Aluminium Dubai is a vital platform for us to showcase the business and investment opportunities the region offers to the global stage and maintain our lead in the international markets,” said Mahmood Daylami, general secretary, Gulf Aluminium Council.

“Our goal is to provide reliable information as basis for local, regional and international investments and as support for the aluminium industry’s stakeholders,” added Tarek Ali, show manager, Aluminium Dubai, Reed Exhibitions.

Last year’s inaugural show welcomed 165 exhibitors from 23 countries and over 3,000 visitors from 61 countries, 73 per cent based in the region. This year’s edition has 81 confirmed companies so far, he said.-TradeArabia News Service