Mubadala Development Co Intend to Finish the Financing of Its UAE Smelter to the End of 2007

News from Abu Dhabi, Nov. 5: an executive of Mubadala Development Co said in Monday they intend to complete its 8 billion financing on UAE smelter to the end of this year. Mubadala Development Co has announced that it has appointed Citigroup Inc. to be its financial adviser. This bank is reviewing several financing report. Mubadala Development Co. plans to use non-recourse loan for an annual output of 1.4 million tons of smelter raised 4 billion US dollars. This smelter was constructing by it and UAE Aluminum Company, the both own half of this smelter’s share. SNC-Lavalin corporation and WorleyParsons will take charge of this smelter’s design and construction.