EGA, Sunstone to set up anode manufacturing plant in Abu Dhabi
Anodes are required in the smelting of aluminium. EGA produces some 1.35 million tonnes of anodes every year at its own plants in Jebel Ali and Al Taweelah, and the remainder of the company's needs are currently imported, said the company in a statement.
The new anode manufacturing facility in Khalifa Economic Zone Abu Dhabi would have a capacity of 300 thousand tonnes of anodes per year, replacing most of EGA's imports and potentially making the UAE only the second country in the world after China to export anodes globally.
The agreement was signed by Abdulnasser Bin Kalban, Chief Executive Officer of EGA, and Lang Guanghui, Chairman of Sunstone.
Within the mandate to attract and enable high-impact investments in Abu Dhabi, Abu Dhabi Investment Office (ADIO) has played an important role to enable Sunstone's entry into the Abu Dhabi market, which includes Sunstone benefiting from ADIO's energy and land support programs, which are key initiatives in Abu Dhabi's industrial strategy.
Bin Kalban said: "This project will enable EGA to further increase our contribution to Make it in the Emirates, by localising the manufacture of a key raw material for our process here in the UAE as well as potentially supplying other aluminium smelters in the region and beyond."
"In our supply chain, EGA already spends more than AED 8 billion each year on goods and services locally, which is around 40 per cent of our total global spend. Our goal is to progressively increase that proportion, to further spur the development of UAE industry," he noted.
Guanghui said: "The UAE's 'Make it in the Emirates' initiative, combined with the support from Abu Dhabi government partners, has created an ideal environment for industrial growth. Establishing Sunstone's first plant outside China in partnership with EGA marks a pivotal milestone in our global expansion."
"We are confident that this collaboration can set a new benchmark for excellence in anode manufacturing. Together, we are poised to deliver long-term value to the UAE's industrial ecosystem and the global aluminium industry," he noted.
Mohammad Ali Al Kamali, Chief Trade and Industry Officer at ADIO, said: "Sunstone's new Abu Dhabi facility, marking the company's first expansion outside of China, reflects the strength of our industrial ecosystem and the emirate's ability to attract global leaders across critical supply chains."
"Through ADIO's comprehensive efforts, we are proud to enable partnerships that create new domestic supply, deepen local capabilities, drive innovation and advance Abu Dhabi's position as a global hub for industrial excellence," he noted.
EGA and Sunstone have already completed a feasibility study for the project, which the two companies intend to develop in a joint venture with Sunstone owning a 55 per cent shareholding and EGA a 45 per cent shareholding.
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