Comalco Link In $650m Dubai Smelter Boost
The Age
Tuesday January 24, 1995
Dubai, Monday.
Dubai Aluminum Co, also known as Dubal, expects to increase its capacity by 52 per cent to 372,600 tonnes a year by 1997, using smelter technology developed jointly with Comalco of Australia.
The company said the expansion would cost $US500 million ($A650 million) and would be financed equally by Dubal and a syndicated five- year loan. Merrill Lynch is the underwriter for the $US250 million loan.
The company is apparently keen to take advantage of rising aluminium prices, which on Friday rose to a five-and-three-quarter-year high.
--Bloomberg.
© 1995 The Age
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