The economy's relentless diversification into heavy industries took another step forward yesterday when Abu Dhabi Basic Industries (Adbic) announced an agreement with a Bahraini firm to build an aluminium rod plant at Taweelah.
The agreement with Midal Cables paves the way for construction of a Dh367 million (US$100m) plant, which will produce 150,000 tonnes of aluminium rod a year and also take advantage of feedstock to be produced next door when a huge new smelter from Emirates Aluminium (Emal) is completed.
Aluminium rods are mainly used in high-voltage power lines and wiring. Adbic said that the plant would be ready to begin production by 2010.
The rod plant was in keeping with Adbic's - and the country's - push to develop heavy industries that add value to locally produced raw materials, said Jamal al Dhaheri, the senior vice-president of metals at Adbic.
"It fits Adbic's drive to contribute to Abu Dhabi's industrial diversification through attracting metal conversion industries and leveraging Emal's planned aluminium upstream capacity in Taweelah," Mr Dhaheri said in a statement.
Plans for the Taweelah site include a deepwater port, a petrochemicals complex and the Emal smelter, all of which will sit next to the emirate's main power plants.
Adbic would be a major client for the aluminium from Emal's new smelter, which will produce 700,000 tonnes per year when it is completed in 2010. A planned expansion to 1.4 million tonnes, after the first stage is completed, would make it the largest smelter in the world.
Yesterday's announcement follows Adbic's launch last month of Polymers Park, a plastics conversion facility in Mussafah that could attract Dh15 billion of investment from plastics conversion firms around the world, and produce 33 million tonnes of polymer products annually.
Like the aluminium rod plant, the polymer facility would take advantage of an existing glut of locally produced feedstock.
In this case, that would involve raw plastic pellets produced in Abu Dhabi, Saudi Arabia and other GCC countries. It would turn those pellets into bottles, bags and other products sold all around the globe.
Last autumn, Adbic announced that it had put together a financing plan for its own aluminium smelter to be built in partnership with Rio Tinto.
That project, however, appears to have stalled at the feasibility stage, and no further information has been released.
Adbic's subsidiary, Emirates Steel, is also building a steel plant that is scheduled to be up and running by 2010.
cstanton@thenational.ae
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
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THE APPRENTICE
Director: Ali Abbasi
Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong
Rating: 3/5
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Second ODI
England 322-7 (50 ovs)
India 236 (50 ovs)
England win by 86 runs
Next match: Tuesday, July 17, Headingley
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Mohammed bin Zayed Majlis
More on Quran memorisation:
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
THE SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
WITHIN%20SAND
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
