UAE

Umm al-Quwain Sets Up Aluminium Company

The Ruler of Umm al-Quwain, Shaikh Rashid ibn Muhammad al-Mu'alla, has issued an amiri decree formally setting up the Umm al-Quwain Aluminium Company (Umalco) with an authorized capital of $25mn. The new company will build a joint venture 120,000 ton/year aluminium smelter in Umm al-Quwain under an agreement reached last March between the Government of Umm al-Quwain (50%) and International Engineering Consultants (50%) - a consortium which...