DUBAI, United Arab Emirates (AP) -- A government-run aluminum smelter in the United Arab Emirates plans to spend $4.5 billion to nearly double its potential output of the widely used metal.
Emirates Aluminium said Sunday that its board approved the expansion plan to increase annual capacity to 1.3 million metric tons (1.4 million tons) by the end of 2014. The facility can now produce 750,000 metric tons (827,000 tons) of aluminum per year.
The Emirates Aluminium smelter is located at al-Taweelah, a coastal industrial complex between Dubai and the Emirati capital, Abu Dhabi.
The company is a joint venture between state-run Dubai Aluminium and Abu Dhabi government investment firm Mubadala Development Company.