The UAE’s Ministry of the Economy has approved raising the capital of Emirates Global Aluminum Company to AED 1.9 billion through the issuance of 1,824,568 new shares at par value of AED 1000 per share, against in-kind assets offered by the Company’s shareholders.

MDC Industry Holding and Dubai Aluminum Holding (Dubal) hold 50% each of the company’s fair value in according with the Law no. 1 of 2014 on Establishing Companies.