BUSINESS REPORTER - MUSCAT, MAY 29 - Aluminium experts believe the region is on the right track to achieving its goal for expected global demand for aluminium to reach 70 million metric tonnes per year by 2020 and becoming the leader in the growing metal industry.
Speaking at the Aluminium Middle East Summit, panellists discussed how the growth in demand for aluminium products and technologies has had an increasing impact on the overall industry production. In order to meet the high demand and benefit from the market, aluminium companies must diversify their downstream product portfolio to include added value products like automotive and high-grade products. In addition, companies must look into expanding their casting capabilities and upgrading their equipment to reduce metal cost by focusing more on recycling end-of-life aluminium scrap and bringing more attention to the circular economy.
“We are looking to become one of the largest downstream aluminium facilities in the region, with our new project that allows us to recycle scrap metal into useful liquid metal and reuse for production, bringing down the costs of the overall production. Our re-melt facility will be capable of producing 120,000 metric tonnes per year of cast slab product in a sustainable yet productive way,” said Ahmed Farah, Supply Manager at GARMCO, Bahrain-based aluminium producer for sheet and coils.
“To achieve a strong growth in the global market, companies need to look into a joint effort to formalize trade barriers on aluminium import and export businesses within the GCC. By doing so, the aluminium industry can take advantage of the regional demand, boosting the overall economy, and meeting the government’s Industrial Strategy,” he added.
Dubai government’s 2030 Industrial Strategy, which has aluminium and fabricated materials as one of the six sub-sectors, will help create an environment for international and local investments and help with the development of the economy while providing a platform for knowledge and innovation. As one of the leading world producers, especially in the manufacturing of upstream products, Dubai is also looking to expand and gain competitiveness in the aluminium downstream industry and becoming the preferred platform of choice for global manufacturing.
More than 150 exhibitors, and over 3,000 industry professionals, from over 73 countries attended the Aluminium Middle East, the biggest gathering for aluminium professionals, to provide strategic insights and highlight ways in which the region can reach its goals.
The event ran in conjunction with the Middle East Aluminium Summit where international and regional industry leaders provided market insights and recommendations for the sector. Panellists speaking at the summit stressed the importance of recycling aluminium within the region, UAE alone consumes 500 million beverage cans every year and out of which only 5 per cent is recycled while the rest goes to scrap dealers or landfills.
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