Another area of co-operation will be in “green” energy in Brazil and other overseas markets. “As an investment arm of the Dubai Government in industrial, mining and power projects, our combined efforts will focus on further industrialization of the Dubai and the UAE in line with our government’s vision,” said Abdulnasser Bin Kalban, of Dubal Holding.
Established in 2014, it is a wholly-owned subsidiary of Investment Corporation of Dubai, and functions as an investment arm for the Government in the commodities and mining, power and energy, and industrial projects. Dubal Holding owns 50 per cent in Emirates Global Aluminium (EGA), a “significant” stake in Sinoway (a Chinese CPC Producer), and a minority stake in CAP Alumina Refinery Project in Brazil.
It also holds a 50 per cent shareholding in JA Power and Water Company - an entity established along with Mubadala of Abu Dhabi to manage a 625 MW power plant and associated reverse osmosis facility at EGA - Dubal.