Emal secures $5.7bn in financing for Phase I
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Emal secures $5.7bn in financing for Phase I

Emal secures $5.7bn in financing for Phase I

Emirates Aluminium (Emal) the joint venture between Mubadala and Dubal, has announced the successful financial completion of its $5.7bn Phase I project, Khaleej Times has reported. Emal announced the approval of the Phase II expansion project in July 2011. A new 444-cell potline is being built and is expected to increase annual production capacity to approximately 1.3 million tonnes by the end of 2014. "We look forward to finalising the financing for Phase II as we continue to work towards making Emal one of the largest and most advanced smelters in the world," said Saeed Fadhel Al Mazrooei, president and CEO of Emal.

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