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UAE aluminium tech heads to India
Emirates Global Aluminium (EGA) is exporting something far more valuable than aluminum to India: the tech used to make it. The UAE industrial major inked an agreement with India’s state-owned National Aluminium Company (Nalco) to license its homegrown DX+ Ultra smelting technology for a major expansion in the state of Odisha, as per a press release.
Nalco plans to build a 500k-tonne-per-year brownfield smelter expansion in Odisha, a project expected to more than double its aluminum production. First metal is slated to roll out by the end of 2030. EGA will license the tech for the new reduction cells, provide technical support during development and start-up, and train Nalco employees to operate the facility.
From metal maker to tech exporter: The pact is a marker of EGA’s effort to turn its industrial know-how into an exportable business — it licensed DX+ Ultra to Aluminium Bahrain for its Line 6 expansion in 2016. EGA has also been looking outward in recent months following damage to its Al Taweelah smelter during the war.
Another Odisha play: The state on India’s east coast is a key mineral producer and is India’s largest producer of aluminum and steel. Its government is already eyeing more collaboration with the UAE across several sectors through a visit this week. IHC also moved early, inking an MoU with Odisha for a USD 11.5 bn integrated aluminium complex in July.
Keep Converting raises USD 2 mn to turn window shoppers into buyers
Dubai-headquartered Keep Converting, an AI-native conversion optimization startup, has raised USD 2 mn in a pre-seed round led by Dubai’s Nuwa Capital and Cotu Ventures, according to a press release. The round will fund merchant onboarding and the expansion of its engineering team.
How it works: Keep Converting was founded by former Vezeeta CPO Mohammad El Mougi and former TikTok Shop US product executive Manuel Prinz. The company says roughly 98% of visitors leave e-commerce sites without making a purchase. Its solution is to use AI to rebuild product pages in real time based on the individual visitor. The platform continuously tests multiple AI-generated page versions and promotes those most likely to convert. The company is already integrated with platforms including Shopify and Adobe Commerce.
Hafeet Rail moves forward
Oman has pushed Hafeet Rail another step toward the finish line: Oman has formally ratified its railway agreement with the UAE, clearing a key government step for the USD 2.5 bn Hafeet Rail project as construction advances on the cross-border network, Gulf News reports. The 238-km railway will connect Sohar to the UAE’s national rail network through Al Buraimi and Al Ain.
Hafeet is already well beyond the planning stage: The project has secured USD 1.5 bn in debt financing, and construction was around 40% complete earlier this year, with work underway across Al Ain, Al Buraimi, Sohar, and Wadi Al Jizzi. The line has a planned freight capacity of around 15k tons per trip, while Noatum Logistics has also lined up a daily container service between Oman and the UAE, running seven trains a week at 276 TEUs per train once operations begin.
IHC boosts UAE space ambitions
International Holding Company (IHC) is formalizing its position in Marlan Holding, agreeing to take an 80% stake in the space venture, according to a disclosure (pdf). IHC has been “affiliated” with Marlan since at least 2024, when it helped set up Marlan's satellite-manufacturing JV with US space infrastructure firm Loft Orbital. This transaction, which would run through IHC subsidiary International Tech Group and remains subject to regulatory approval, converts that overlap into a direct stake. Financial terms were not disclosed.
BACKGROUND-The actual backer of Marlan was Abu Dhabi’s Royal Group, which owns roughly 61% of IHC, and the two are chaired by Sheikh Tahnoon bin Zayed Al Nahyan.
That JV, Orbitworks, is the venture’s main asset. Orbitworks recently said that it’s investing USD 1 bn through 2030 to expand its satellite network, after the UAE cabinet said it aims to double space economy revenues and grow export markets.
Edge, Safran team up on smart weapons + production
Edge is still on its manufacturing drive after the war with Iran highlighted the need for secure and reliable defense supply chains. Brazilian smart-weapons maker Siatt, in which the state defense firm holds a 50% stake, and France’s Safran Electronics and Defense are planning to set up rocket motor production capabilities in Siatt’s Brazil facility, Wam reports. The agreement came as part of an MoU to collaborate on missile systems, loitering munitions, and other smart weapons, which use AI in onboard computers for self-guidance.
