ADBIC, Rio $5bn smelter talks
United Arab Emirates: Monday, November 19 - 2007 at 07:42
The Abu Dhabi Basic Industries Corporation (ADBIC) is in advanced negotiations with Rio Tinto about setting up an aluminium smelter at Al Ruwais, west of Abu Dhabi, reported Reuters. The project would be a 50-50 joint venture and would be undertaken in three phases, with the first two stages each costing around $5bn, according to ADBIC's COO Jim White. The Royal Bank of Scotland is advising ADBIC.
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Jonathan Sheikh-Miller, Deputy EditorMonday, November 19 - 2007 at 07:42 UAE local time (GMT+4)
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