- ABU DHABI: Abu Dhabi's Mubadala plans to build a petroleum coke facility in Zhenjiang, China, in a joint venture with the Jiangsu Surun High Carbon Company (Surun) that could start production late next year, the investment fund said on Monday.
The joint venture, called Suyadi, will help supply aluminum smelting plants in the United Arab Emirates (UAE), Mubadala said in a statement, without giving any investment cost details.
"This joint venture is an important component of our globally integrated portfolio of businesses that support the growth of the UAE's aluminum industry," said Waleed Al-Muhairi, chief operating officer of Mubadala.
Construction is expected to start towards the end of 2011, with first production set for export by the end of 2012, it said.
The UAE produces around 1.8 million tons of aluminum a year through Dubai Aluminium Company Limited (DUBAL) and Emirates Aluminum Company Limited (EMAL).
EMAL is a joint venture between DUBAL and Mubadala.