EGA drives national economy with 1.3% contribution to UAE’s GDP, asserts CEO

Abdulnasser Ibrahim Saif bin Kalban, Chief Executive Officer of Emirates Global Aluminium (EGA), highlighted in his conversation with the Emirates News Agency (WAM) that Emirates Global Aluminium (EGA) plays a crucial role in supporting the national economy. As a key driver of the domestic aluminium sector, EGA supports thousands of jobs and contributes billions to the United Arab Emirates' economy.

Image Source: EGA

Mr Saif bin Kalban mentioned that EGA's direct, indirect, and induced economic contribution was over $6.5 billion in 2023, supporting more than 57 thousand jobs and accounting for about 1.3 per cent of GDP.

He also boasted that EGA is committed to redirecting its earnings to the local economy by purchasing local goods and services. On average, the company annually redirects about AED 7 billion ($1.9 billion) to the local economy, which increased last year to AED 8 billion ($2.2 billion).

Mr Kalban added that EGA is mulling to expand its manufacturing activities in the UAE to meet the local supply chain requirements and to increase its spending in the local market. He noted, "Since joining the Ministry of Industry and Advanced Technology's National In-Country Value (ICV) Programme in 2022, EGA's procurement rate has now reached 42 per cent."

This year, Emirates Global Aluminium achieved one of the most significant milestones, which is expected to improve its production capabilities and thus enhance its economic position. In July 2024, EGA completed the design phase of its cutting-edge smelting technology EX, which would enable the company to leap forward from EGA's DX+ Ultra technology, known for its efficiency in the global aluminium sector.

The new EX-reduction cells promise enhanced production capabilities with increased amperage and improved current efficiency. This advancement is estimated to boost production capacity by up to 22 per cent, underscoring EGA's commitment to pushing the boundaries of aluminium production.

Edited By: Debanjali Sengupta

Source: https://www.alcircle.com/news/ega-drives-national-economy-accounting-for-1-3-of-uaes-gdp-asserts-ceo-112584