Written by Amr Adel
Dubai – Mubasher: Gulf Aluminum Council (GAC) expects the investments of the GCC countries in the aluminum industry to increase to hover around $50 billion to $55 billion through the upcoming three years, said Mahmood Daylami, Secretary General.
“The investments of the GCC countries in the aluminum industry currently stand at $40 billion,” Daylami told Mubasher on the sideline of Arab International Aluminum Conference (ARABAL) held in Dubai.
The Gulf countries production capacity of aluminum currently stands at nearly 5.5 million tons annually, which accounts for 12% of the worldwide production, noted Daylami. The GCC countries are seen to boost their production to six million annually by 2020, he added.
“In 2015, the aluminum Smelter in GCC countries have produced 5.27 million tons, representing 10% on the global production,” noted the Secretary General.
On other hand, the Secretary General ruled out that the GCC countries will impose protectionist measures similar to its Asian and European peers.
Translated by Shaimaa Elsarky
