Emirates Global Aluminum (EGA), the largest industrial company in the UAE outside oil and gas, has signed an agreement with Japan-based ITOCHU Corporation to explore joint projects in the Emirates which would advance the goals of the nation’s Operation 300bn industrial growth strategy.
EGA’s relationship with ITOCHU stretches back to the 1980s, with the Japanese company marketing EGA’s metal to customers in Japan and Japanese companies’ operations abroad.
According to the statement, the two companies have now agreed to explore expanding this cooperation to leverage both companies’ industrial capabilities in opportunities that complement EGA’s existing operations in the UAE.
“Potential projects include some that would be new industrial activities in the UAE, such as the further processing of EGA’s metal to produce super-high purity aluminum for specialized applications, and the recycling of copper that is used in EGA’s production process,” the company noted.
The two companies will also explore cooperation in Industry 4.0 projects and the development of new aluminum alloys with third parties for niche applications.
Abdulnasser bin Kalban CEO – EGA
“EGA and ITOCHU have worked together for decades, and we are pleased to now explore how we can expand this relationship to new industrial activities and opportunities here in the UAE that would add value to our businesses. To more than double the size of the UAE’s industrial sector by 2031, our nation needs to develop new industrial capabilities. Working in partnership with other global companies like ITOCHU will help EGA accelerate our contribution to Operation 300bn.”
Mr. Kenji Seto, Executive Officer and President, Metals & Minerals of ITOCHU, said that, “ITOCHU and EGA have a strong partnership and we are pleased to now be exploring joint projects in the UAE with the largest ‘premium aluminum’ producer in the world.”
“Our aim is to leverage the strengths of each company to progress these projects and create value for us both as well as for the UAE as a nation,” Mr. Seto further added.
