Dubai-Mubasher: Dubai Investments plans to form a joint venture for building a new aluminium rolling plant with a total investment of AED 440 million in the Khalifa Industrial Zone Abu Dhabi (KIZAD), according to a bourse statement.

The new plant, expectedly named Emirates Aluminium Rolling (Emiroll), is a joint venture that includes DUBAL Holding (DH), a subsidiary of Investment Corporation of Dubai (ICD), and Singapore-based industrial group MARS.

DH and MARS will each hold a 35% stake in Emiroll while Dubai Investments will own the remaining 30% stake in the joint venture.

As part of the joint venture, MARS has committed 30% product off-take from Emiroll for application and use across its Middle East operations.