Preliminary studies on the viability of the project are currently under way.

“It is still in the pre-feasibilty stage,” says Constantin Catsaros, deputy general manager of Elval. “We expect to know more in early June. But our own studies show this could be a profitable business.”

Elval currently produces flat-rolled aluminium products at two facilities in the UK and Greece. Products include foil, canning materials and alloys for the automotive industry.

Emal, a 50:50 joint between Abu Dhabi-based investment company Mubadala and Dubai Aluminium, is developing a 700,000 tonne a year aluminium smelter at Taweelah.