Egypt’s gov’t plans to set up aluminum factory in Saudi Arabia or UAE

The Public Enterprises Ministry is mulling setting up an aluminum factory in either Saudi Arabia or the UAE through a partnership, Minister Hisham Tawfik told Al Mal. Egypt is eyeing these two countries in particular since they subsidize electricity. The facility will use bauxite sourced from Ghana for its raw material needs. No further details were provided on the plan, but the move would aim to help Ghana drift away from its high dependence on Chinese manufacturers, who purchase most of its massive bauxite reserves.