UAE: Joint venture construction start-up on planned 330,000 tons per year aluminum plant and associated captive power station is tentatively scheduled to begin some time during second half of 2005, OMAN OIL CO. (OOC), ABU DHABI WATER & ELECTRICITY AUTHORITY (ADWEA) [UAE] & ALCAN INC. [Canada] Order #: 085204.

WWP-Business Opportunities in Africa & the Middle East, August, 2004

PROJECT OVERVIEW:

A memorandum of understanding (MOU) was recently signed by a Canadian/Emirates joint venture regarding the long-stalled construction of an aluminum plant in the UAE. The partners in the planned undertaking and their respective shareholdings include the local OMAN OIL CO. (OOC) and the ABU DHABI WATER & ELECTRICITY CO. (ADWEC) that will each hold a 40% stake in the venture and Canada-based ALCAN INC. (20%).

Under the terms of the MOU, the partners plan to build an aluminum smelter with an installed production capacity of 330,000 tons per year (t/y). In addition, ALCAN will have the option of taking a 60% interest in a second 330,000 t/y potline. In so doing, the agreement calls for ALCAN to provide a license for its most advanced...

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