Annual Report 2010
Industry
Only a year after producing its first tonne of metal, Emirates Aluminium (EMAL) reached full first-phase production capacity of 742,500 tonnes.
EMAL, Mubadala’s partnership with Dubai Aluminium, is one of the largest industrial investments in the Gulf outside the oil and gas sector and represents a remarkable achievement on many fronts. The speed and quality of project execution – an average of 13.3 cells energized per week – represents a new industry benchmark. The last cell went live on December 31, 2010.
Annual production of 353,000 tonnes of primary aluminium significantly exceeded the 245,000 tonnes targeted during ramp-up year – all achieved with impeccable safety and environmental records.
At the same time, EMAL launched the front-end engineering design for Phase II which, if approved for development, will bring aggregated annual production capacity to 1.4 million tonnes. On completion, this will make EMAL the largest single site smelter in the world.
EMAL is the first user of the Khalifa Port facilities, inaugurated at the end of 2009, and is also active in developing the aluminium downstream cluster in the Khalifa Port and Industrial Zone, where several tenant contracts are at the final stages of negotiation.
Mubadala Industry’s mining activities focus on bauxite/alumina and iron ore. In partnership with BHP Billiton, development work continued in 2010 for the Guinea Alumina Company’s bauxite mine and alumina refinery in Sangaredi, Guinea. Phase I production is estimated at 3.3 million tonnes annually, expandable later to 5.2 million tonnes.
Mubadala Industry’s utilities businesses recorded another successful year. Tabreed’s district cooling operations, in which the unit held a 15.8 percent stake at year-end, achieved a significant turnaround during the year, recording substantial increases in total revenue and net income as 13 new plants and two expansions came online and added 155,000 TR (Tons of Refrigeration) of gross capacity – bringing total installed capacity to 541,000 TR.
During 2010, Azaliya, Mubadala Industry’s joint venture with Veolia EAU, provided water to more than six million customers. New contracts included major projects in Oman and Abu Dhabi.
Through its global partners, Mubadala Industry’s power generation operations have installed capacity of 2.6 GW and gross assets exceeding AED 5 billion. New power plants in Algeria and Oman completed their first full year of operation during 2010, and business development activities continued to tap buoyant sector growth in the Middle East and North Africa.
(tonnes – Phase I)
742,500
Emirates Aluminium (EMAL) reached full first-phase production capacity of 742,500 tonnes.
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