EMAL Plan to Raise 15 Billion$ to Build the Biggest Aluminum Smelter in the World

EMAL has finished its 15 billion dollars capital raising. Including a 16 years 1.8 billion Business Instalment Loan, 270 million$ credit and a 6 years equity bridge loan. During the construction work of this smelter, its financial credit market may get another 2 billion dollars. Then the total invest will be 7 billion dollars. It is reported that is the biggest commercial financing, take charged by Citigroup, Sullivan and Cromwell. CEO of Mubadala and Chairman of UAE aluminum HE Khaldoon Khalifa Al Mubarak said this smelter item is a cornerstone to strength industry department. To achieve the diversified and sustainability develop aim of Abu Dhabi. EMAL intend to build a 700 thousand annual output aluminum smelter in Khalifa Port and industry park of Abu Dhabi. This financing raise is the first period capital rising. When the second period construction work completed, it will become the biggest aluminum smelter in the world, the annual output can reach 1.4 million PMT. Early this year the first construction work was launched in Taweelah. That is a sign that Abu Dhabi enters aluminum industry as an international aluminum producer.