Al-Braik hires finance partner for silicon smelter

25 March 2013

UAE group moves forward with plans to invest $200m in Abu Dhabi project

Dubai-based Al-Braik Investments has appointed US investment bank Jefferies as its international financial adviser for its silicon metal smelter project in the UAE.

Jefferies will assist Al-Braik in funding the $200m project, which will be located at the Khalifa Industrial Zone Abu Dhabi (Kizad) located between Abu Dhabi and Dubai cities.

The smelter – the first of its kind in the GCC – will produce high-grade silicon, which is used as an alloying agent to improve the strength of wrought aluminium alloys. Aluminium producers in the GCC currently import high-grade silicon from outside the region.

The initial plan for the project will include the construction of two furnaces having a joint output capacity of 33,000 tonnes a year (t/y).

Al-Braik is developing the project in partnership with Abu Dhabi Ports Company (ADPC) and Emirates Aluminium (Emal), which operates the nearby aluminium smelter.


A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications