H.H. Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the Board of Dubai Aluminium Company Limited (DUBAL), chaired today the company's General Assembly meeting which was held to review operational results and achievements for 2009.
A board report said DUBAL's profits reached about Dh1.1 billion in 2009, a figure that indicated the company has weathered the storm of the global financial crisis and its direct effect on industry from recession to low demand. DUBAL's production grew by 7 per cent in 2009 over 2008, crossing the one million tonnes mark. Sales rose 8 per cent for the same period.
With regard to Emiratisation, UAE nationals make up 22% of DUBAL's workforce and 70% of its senior management.
Sheikh Hamdan and Ahmed Humaid Al Tayer, Vice Chairman of DUBAL, along with members of the board, heard a report from the President and Chief Executive Officer of the company, Abdulla Jassem Bin Kalban who said 80 per cent of works in the mega Emirates Aluminium Smelter (EMAL) in Al Taweelah area of Abu Dhabi have been achieved. EMAL's high-tech US$5.7bn aluminium smelter and the world's largest green field project of its kind, is a strategic joint venture between DUBAL and Mubadala Development Company.
He added that the first phase of the promising project including the 2000 MW power station was operational.
Sheikh Hamdan said DUBAL is playing a vital role in boosting and cushioning the national economy and creating new job opportunities for UAE citizens. He praised the efforts made by the board members and all the workers in DUBAL and He expressed appreciation for the company's achievements at home and abroad and wished everyone continued success. - Emirates News Agency, WAM
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