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Gulf regions aluminium investments to reach USD 55 billion by 2020

According to organisers of Aluminium Middle East exhibition, Gulf region’s investments in the aluminium sector are forecast to reach USD 55 billion by 2020, compared to USD 30 billion in 2011, thanks to smelters’ expansion and new projects in the region, will be held between 14 to 16 April, 2015 at Dubai International Convention and Exhibition Centre.

Statistical data showed that the Gulf aluminium industry is growing by 8.4% annually, compared to an average annual global expansion of 3.5% making the Middle East the fastest growing aluminium market in the world.

Gulf region’s aluminium production reached 3,739,290 tonnes in 2012 compared to 3,488,357 tonnes in 2011 and is expected to increase to 5 million tonnes by 2015, making the Gulf region the biggest single player worldwide, the organisers of the event added.

Organisers of Aluminium Middle East exhibition say the region is not only one of the key aluminium producers in the world but is also among major consumption markets of the metal.

The aluminium industry contributes significantly to the region-wide efforts to diversify economies beyond oil and gas. With widening scope, facilities and capabilities, the sector has helped increase foreign trade, create more jobs and expand regional economies.

Spanning through a wide range of industries, including transportation, aerospace, aviation, packaging and construction, aluminium is a prerequisite for industrialization in the Gulf region.

The Gulf aluminium industry has several competitive advantages over its counterparts across the globe. These include huge reserves of raw materials, energy and natural gas.

Aluminium smelters in the Gulf region are modern and use sophisticated techniques that consume less energy, enabling them to reduce cost, achieve price flexibility and increase their competitiveness in global markets.

The Gulf region’s aluminium industry also benefits from the presence of a world class infrastructure network, cheaper skilled labor, unique geographic location and advanced logistics.

Source – WAM

(www.nctv.net)

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