Emirates Global Aluminium PJSC (EGA) says it has identified tens of millions of dollars’ worth of yearly procurement of items bought overseas that it says can be manufactured in the UAE.
The firm said this week that a wide range of items can be sourced locally, including general materials, industrial equipment, and spare parts. EGA carried out the study as part of UAE’s Operation 300bn, which is an effort at promoting industrial growth in the country.
EGA says that it spent over AED17 billion (US$4.6 billion) last year on procurement, with about 46 percent of it spent on local companies and manufacturers.
Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, said in a press release that it hopes to increase its own share of domestic procurement over the next several years.
“At EGA we aim to double our absolute contribution to the economy of the UAE by 2040, and local procurement is part of that. We procured over AED 8 billion of goods and services in the UAE last year. We want to stimulate the development of new manufacturing in the UAE to meet more of our demand to boost this local spending further.”
EGA says the best opportunities for domestic procurement it has so far identified include industrial filtration and purification equipment, structural materials and pipes, metal tapping accessories and casting moulds, valves, electrical equipment such as sockets and wires, gaskets and seals, mobile equipment spares, measuring equipment, and drive components.
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.
1 AED = 0.272294 USD