Emirates Aluminium plans to spend $4.5 billion in a bid to increase its output of the widely used metal, the online news agency Indian Infoline said on Thursday. The board of directors of the Abu Dhabi-based firm has approved the phase two expansion plan in late July to increase the company's annual capacity to 1.3 metric tons by the end fo 2014, the Indian Infoline said. The facility currently produces 750000 metric ton of aluminum per year, it said, adding that after the expansion the firm will be among the biggest single-site producers of primary aluminum in the world. Saaed Fadhel Al-Mazrooei, the company's president and chief executive officer, said phase two is expected to expand its global customer base, according to Indian Infoline. In a span of years, Al-Mazrooei said Emirates Aluminun has become a global competitor in the industry. Indian Infoline said the $5.7 billion joint venture between Dubai Aluminium and Mubadala Investment Company has become one of the biggest industrial projects in the United Arab Emirates outside gas and oil.
