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Aluminum market reels after strikes on EGA and Alba
Analysts see a worst-case scenario leading to prices as high as USD 4k per ton in extreme cases
Attacks hit industry, threatening higher commodity prices and investor caution
Strikes hit EGA’s Kezad site, pushing the war into heavy industry as Abu Dhabi shifts to counter-drone partnerships and maritime…
THIS MORNING: Dubai, Oman team up to bypass logistics bottlenecks + IHC signs off on buyback program up to AED 5 bn
Middle East crude benchmarks are also posting record highs
EGA locks in USD 5 bn refinancing ahead of its potential IPO
The facility will be used to roll over existing debt and open up balance sheet capacity
Higher prices and sales boosted EGA’s 2025 earnings
The company is reportedly planning an ADX IPO
Emirates Global Aluminium taps investors ahead of IPO
The listing comes after EGA secured a partnership to build the US’ first smelter in 46 years
EGA, Century to build first new US aluminum smelter in 46 years
The Oklahoma project follows Sheikh Tahnoon’s Washington visit in March
Modon awards massive construction contract, EGA invests USD 170 mn in German facility, and Depa closes its rights issue
Modon awarded a AED 5 bn contract for Nawayef East and Nawayef West on Hudayriyat Island
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