Dubal Holding reports Dh2.7 billion net profit for 2021 | Markets – Gulf News

Dubal Holding reports Dh2.7 billion net profit for 2021 | Markets – Gulf News

Dubal Holding (DH), the investment arm of Dubai Government in the commodities and mining, power and energy, and industrial sectors, has announced record high net profit of Dh2.7 billion for 2021.

A combination of good operational performance and record profits made by DH’s 50 per cent subsidiary – Emirates Global Aluminium (EGA) due to soaring global prices of aluminium, made 2021 an exceptional year for DH.

“This [Aluminium] sector witnesses today a strong demand and is powering new emerging industries, and assuming a bigger role in sustainable development. This strategic direction contributes to enhancing the competitiveness of the UAE in the global aluminum markets in the future,” Saeed Mohammed Al Tayer, chairman of DH.

DH is currently implementing Dubai Waste Management Centre at Warsan – one of the world’s largest Waste-to-Energy plants – which will treat about 1.9 million tonnes of solid municipal waste per year and provide electricity to around 100,000 households. The landmark project, which is a joint venture with multiple partners, is on track for completion by mid-2024.