Sunstone Development and Emirates Global Aluminium completed the formation of a joint venture.

Sunstone Development, a Chinese company specializing in the production of pre-baked carbon anodes for the global aluminum industry, and EGA, a premium aluminium producer, completed the formation of a joint venture to progress the development of an anode manufacturing plant in Abu Dhabi. The joint venture will be owned 55:45 by Sunstone and EGA, respectively. Financial terms were not disclosed. “This project will enable EGA to further increase our contribution to Make it in the Emirates, by localising the manufacture of a key raw material for our process here in the UAE as well as potentially supplying other aluminium smelters in the region and beyond. In our supply chain, EGA already spends more than AED 8 billion each year on goods and services locally, which is around 40 per cent of our total global spend. Our goal is to progressively increase that proportion, to further spur the development of UAE industry,” Abdulnasser Bin Kalban, EGA CEO.