It was reported Saturday that Dubal or Dubai Aluminium has purchased a twenty percent share in a joint venture project in China. The amount of the purchased shares of Dubai Aluminium in the joint venture for a calciner development project with Hongkong based Sinoway Carbon Energy Holdings was not revealed. Part of the deal, Dubal was allowed to a yearly off-take volume of calcined petroleum coke (CPC).
The joint venture is known as the Sinoway Carbon Company Limited. The Sinoway calciner project and will be in two parts with the first project to be completion of the first part will be in May of this year. The second part is expected to be completed by the fourth quarter of 2013. This venture is expected to produce 560,000 tons of calciner annually.
According to Dubal's President and CEO Abdulla Kalban, the move to invest to Sinoway was "a strategic opportunity to mitigate the company's supply and quality concerns, thus contributing to business continuity".
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