It is reported that the United Arab Emirates is forming the world's fifth largest aluminum company by merging its 2 state owned aluminum company.
The merger of Dubai Aluminium and Emirates Aluminium creates a company with enterprise value of US$15 billion. The new company is called Emirates Global Aluminum.
The creation of Emirates Global Aluminium will put the UAE in a better position to compete with the world's fourth largest aluminium smelter, the state owned Aluminium Bahrain.
The 2 weathly Emirates of Dubai and Abu Dhabi has for decades been building competing interest with each other.
This merger may pave the way to closer ties between these 2 Emirates, especially after Abu Dhabi bailed out Dubai after the global financial crisis.
