Emirates Global Aluminium recycles around 100,000 tonnes of its waste each year, with some of its major waste products used as feedstock by downstream industries. Courtesy EGA
Emirates Global Aluminium recycles around 100,000 tonnes of its waste each year, with some of its major waste products used as feedstock by downstream industries. Courtesy EGA
Emirates Global Aluminium recycles around 100,000 tonnes of its waste each year, with some of its major waste products used as feedstock by downstream industries. Courtesy EGA
Emirates Global Aluminium recycles around 100,000 tonnes of its waste each year, with some of its major waste products used as feedstock by downstream industries. Courtesy EGA

Business

Energy

EGA agrees to innovative reuse of industrial by-product in refining process

Gulf Extrusions will supply the UAE aluminium producer with 450 tonnes of spent caustic soda each month

Deepthi Nair
Deepthi Nair

August 01, 2021

  • English
  • Arabic

Emirates Global Aluminium, the UAE’s biggest industrial company outside oil and gas, signed an agreement with Gulf Extrusions for the supply of an industrial by-product for use in the Abu Dhabi company's production process as it seeks to boost its efficiency.

Gulf Extrusions, a subsidiary of the Al Ghurair Group, will supply EGA with about 450 tonnes of spent caustic soda from its Abu Dhabi and Dubai extrusion plants each month for use in alumina refining.

The move will eliminate the need for new raw materials, boost efficiency and benefit the environment, EGA said on Sunday. It will also help the aluminium manufacturer make use of waste products as feedstock through its collaboration with other industries.

“Finding ways to reuse waste takes innovative thinking and close co-operation between companies and industries,” said EGA chief executive Abdulnasser bin Kalban.

Solutions like this ... reduce the need for fresh raw material and are part of how we can address our global waste management challenge
Abdulnasser bin Kalban,
EGA chief executive

“But solutions like this agreement with Gulf Extrusions reduce the need for fresh raw material and are part of how we can address our global waste management challenge.”

EGA recycles about 100,000 tonnes of its own waste each year, including sending major waste products as feedstock to industries such as the cement manufacturing sector, it said.

“EGA’s reuse of spent caustic soda to make full use of the aluminium content of this by-product will reduce the environmental impact of both our companies,” said Christian Witsch, chief executive of Gulf Extrusions.

EGA and Gulf Extrusions did a trial run of the process at Al Taweelah and developed transport protocols to ensure its safe transfer between the two companies’ sites.

Separately, EGA has been working with UAE cement companies since 2010 to reuse spent pot lining, one of the aluminium industry’s most significant waste products, in cement manufacturing, the company said.

EGA is jointly owned by Abu Dhabi’s strategic investment arm Mubadala Investment Company and the Investment Corporation of Dubai. It is the largest company jointly owned by the two emirates.

The company, which has more than 400 long-term customers in 50 countries, sold 2.52 million tonnes of cast metal in 2020.

EGA’s adjusted earnings before interest, taxes, depreciation and amortisation climbed to Dh4.1 billion ($1.13bn) at the end of last year, a 63 per cent rise from 2019.

A strong production increase at EGA’s alumina refinery and bauxite mine in Guinea, West Africa, cost controls and lower global prices for raw materials have helped to improve the company’s earnings.

While you're here
Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Company%20profile
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Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

Whiile you're here

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

The biog

From: Upper Egypt

Age: 78

Family: a daughter in Egypt; a son in Dubai and his wife, Nabila

Favourite Abu Dhabi activity: walking near to Emirates Palace

Favourite building in Abu Dhabi: Emirates Palace

While you're here
Profile

Name: Carzaty

Founders: Marwan Chaar and Hassan Jaffar

Launched: 2017

Employees: 22

Based: Dubai and Muscat

Sector: Automobile retail

Funding to date: $5.5 million

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
Specs

Engine: 2-litre

Transmission: Eight-speed automatic

Power: 255hp

Torque: 273Nm

Price: Dh240,000

MATCH INFO

Euro 2020 qualifier

Ukraine 2 (Yaremchuk 06', Yarmolenko 27')

Portugal 1 (Ronaldo 72' pen)

Updated: August 01, 2021, 2:29 PM
Energy