Emal signs contract with Italian firm

Emirates Aluminium (Emal) signed a contract for the provision of aluminium fluoride (AlF3) with the Italian-based company Fluorsid recently. The contract extends the existing relationship between the two companies and ensures the future supply of a crucial element in the aluminium making process to Emal. The contract worth $93 million over three years - will have Fluorsid supply AlF3 to the flagship industrial project between 2013 and 2016. Emal’s potline will consist of 1,200 pots after completion of Phase II, with each pot consuming roughly18kg of AlF3 per tonne of aluminium produced. The signing was held at Emal’s premises at Al Taweelah where the Italian Ambassador to the UAE, Giorgio Starace, was on hand to witness the signing by Emal President and CEO, Saeed Fadhel Al Mazrooei, and Fluorsid’s Managing Partner, Tommaso Edoardo Giulini. Al Mazrooei said: “Upon completion, Emal will be established as one of the largest single site smelters in the world and further strengthen our position as a major new player in the global aluminium industry.” “We were excited to work with Emal from the very beginning and are delighted that the relationship will be extended further allowing us to carry on supplying Emal as it continues to expand through Phase II,” said Tommaso Edoardo Giulini, Managing Partner, Fluorsid. Meanwhile Emirates Aluminium, a joint venture between Abu Dhabi’s Mubadala and Dubai Aluminium, has mandated three banks for a bond issue up to $1 billion, two banking sources familiar with the matter said on Tuesday. Emal has picked Goldman Sachs, Citigroup and Abu Dhabi Commercial Bank (ADCB), the sources said, declining to be identified. The bond is expected to be a part of a $4 billion financing package for a smelter expansion. From gulftoday