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Gulf Ingot FZC, headquartered in the UAE, and Industrial Parks Development Corporation (IPDC) of Ethiopia concluded an agreement for the production of packaging materials for soft drinks and water.
The company will commence production with a capital of US$ 5.2 million. It will provide its products to local and international markets from its production base which will be located in Dire Dawa Industrial Park. It is expected to create job opportunities for 139 individuals. Gulf Ingot FZC is also active in Kenya and Rwanda. The park has the capacity to host 135 investors. It is also estimated that the park will create jobs for more than 100,000 people once it becomes fully operational.
After China, another region that is growing substantially in primary aluminum production is the GCC (Gulf Cooperation Council) or the Gulf countries. The volume of aluminum production in the Gulf region stood at 5.2 million tonnes in 2015, accounting for around 10 percent of the total global output of 58 million tonnes. This is due to the major expansion of existing smelters and the commissioning of new projects as primary aluminium production is increasing at a faster rate in the GCC countries. After oil and natural gas, now aluminium is one of the key economic drivers for the Gulf region.
Read Also:
https://trendsnafrica.com/ethiopias-bulbula-agro-industrial-park-fully-operational/
https://trendsnafrica.com/ethiopias-macroeconomic-indicators-sound-pm-abiy/
The top five smelters in GCC are Emirates Global Aluminium(EGA) which is a collaboration of (Dubal – Dubai Aluminium and Emal – Emirates Aluminium, United Arab, Emirates Alba – Aluminium Bahrain, Bahrain, Qatalum – Qatar Aluminium, Qatar, Sohar aluminum, Oman and Ma’aden Aluminium, Saudi Arabia.
