EGA and ITOCHU Ink Agreement To Collaborate On Aluminium Production Growth

EGA and ITOCHU Ink Agreement To Collaborate On Aluminium Production Growth

Emirates Global Aluminium announced this week a memorandum of understanding with ITOCHU Corporation of Japan to collaborate on aluminium production growth, focusing upon decarbonization and developing domestic industries in EGA’s supply chain.

The accord was inked at UAE’s Japan-UAE Business Forum and in the presence of dignitaries including Abu Dhabi Executive Council member Sheikh Hamed bin Zayed and Japan’s Prime Minister Fumio Kishida.

Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, expressed the value his company places in the relationship in a press release.

“EGA and ITOCHU have worked together for decades, and our partnership has been an important part of the trade relationship between the UAE and Japan. We look forward to expanding this partnership further, to the benefit of our companies and both nations.”

The two companies inked a MOU several months ago in Japan focused on leveraging both firms’ industrial capabilities as it relates to EGA’s domestic operations.

Keita Ishii, President and Chief Operating Officer of ITOCHU Corporation, noted the importance of the overarching relationship.

“The commercial relationship between ITOCHU and the UAE is amongst the most significant our two nations share. Our goal now is to deepen our work together to help meet the growing demand for aluminium over the decades ahead.”

EGA and ITOCHU have a relationship dating back more than three decades, beginning with ITOCHU’s marketing of EGA’s products in its home market in Japan.

Based in Abu Dhabi, United Arab Emirates, Emirates Global Aluminium is an aluminium conglomerate created by the merger between Dubai Aluminium (DUBAL) and Emirates Aluminium (EMAL) in 2013. EGA had an estimated enterprise value of US$15 billion at the time the merger took place. The firm is owned equally by Mubadala Development Company of Abu Dhabi and Investment Corporation of Dubai. Emirates Global Aluminium holds interests in bauxite/alumina and primary aluminium smelting.