Middle East Economic Survey

VOL. LIV

No 21

23-May-2011

UAE

ADBIC Signs JV Agreement To Set Up Taweelah Aluminum Extrusion Company

Abu Dhabi Basic Industries Corporation (ADBIC) wholly owned by state firm General Holding Corporation (GHC) signed a joint venture agreement with Al-Ghurair Groups Gulf Extrusions unit to set up Taweelah Aluminium Extrusion Company in Abu Dhabi, the company announced on 16 May. Taweelah will invest $200mn in a 50,000 tons/year plant to be built next to the...