Emirates Aluminium Co., an Abu Dhabi- based smelter, will approach banks in June to finance its expansion, MEED reported, citing people familiar with the project.
Negotiations with export credit agencies from Korea, the U.S., France and Germany will conclude soon, paving the way for the company to seek commercial funding, according to the report. Mubadala Development Co. and Dubai Aluminium Co., Emal’s owners, are also planning to issue a project bond to fund the expansion, MEED said.
The company hopes to reach agreement on financing by October, according to the report.
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