Gulf Star Metals buys facility in Ajman from Abu Dhabi-controlled Ferrostaal
Germany’s Ferrostaal has sold its first UAE-based cable recycling plant to local Gulf Star Metals in the emirate of Ajman.
The plant supplied by Danish manufacturer Eldan is capable of processing around 2.5 tonnes of cables per hour, according to a statement from the firm. Once the different materials that make up the cables are separated they can be recycled.
Ferrostaal builds plants for recycling cable waste as well as old tyres, aluminium and magnesium scrap from refrigerators, and electrical and electronic equipment.
The Abu Dhabi sovereign wealth fund, the International Petroleum Investment Company, owns 70 per cent of Ferrostaal with Man from Germany owning the remaining 30 per cent.
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