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Dubai skyline is seen from the roof top of One Palm in Palm Jumeirah, Dubai. Image for illustrative purpose.
Dubal Holding has reported a profit of AED 2.7 billion ($735 million) in 2021, up from AED 217 million in 2020, it was announced today.
The company, an investment arm of Dubai Government in commodities, mining, energy and industrial sectors, said there had been a good operational performance and record profits made by its 50 percent owned subsidiary Emirates Global Aluminium due to soaring aluminium prices.
Ahmad bin Fahad, CEO of DUBAL Holding, added by saying: “2021 was an excellent year for the aluminium market, with demand forecasted to remain robust in coming years.
“However, while continuing to build on a national aluminium downstream cluster, we are planning for strategic acquisitions for further expansion in the global market.”
(Writing by Imogen Lillywhite; editing by Seban Scaria)
