DUBAI, Feb. 11 -- State-owned Emirate's Aluminium (Emal) has signed a contrat to ship aluminium to South Korea's Daewoo International Corporation (047050.KS: Quote), the UAE's official news agency WAM reported on Wednesday.
This would be the company's first international shipment of the metal. "We are delivering our first shipment to Daewoo," Saeed Al Mazroui, Emal's chief executive told WAM.
"This agreement is in line with our business strategy to develop a wide international client base," he added. No details were given on the quality of aluminium that was sent.
By the end of 2010, Emal plans to ramp up production of its $5.7 billion project located at Al Taweelha in Abu Dhabi to 700,000 tonnes of aluminium per year (tpy).
Emal is a 50-50 joint venture between Dubai Aluminium Company Limited (Dubal) and Mubadala Development Company (Mubadala), Abu Dhabi's investment vehicle.
Emal is expected to be the world's largest single-site aluminium smelter complex with this project. The first phase of the project will have a capacity of more than 2,000 megawatts of electricity.
The second phase will increase capacity to 1.4 million tonnes of aluminium per year and is expected to be completed in 2013-2014.