Gulf International Investment Group Holdings Sdn Bhd signed a joint venture agreement with Aluminum Corporation of China Ltd. to develop a US$1.6 billion aluminum smelting plant in Sarawak, Malaysia.
Smelter Asia Sdn Bhd will develop, own and operate the aluminum plant, which will have an annual capacity of 370,000 metric tons during the first phase. It’s planned that that capacity will increase to 700,000 tons, according to an e-mailed statement from the company.
Gulf International is headed by Malaysian entrepreneur Tan Sri Syed Mokhtar Al-Bukhary and Mohammed Alabbar, a businessman based in the United Arab Emirates, who is also the chairman of Emaar Properties, the U.A.E.’s biggest developer.
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