Regional stock market indices Regional currency rates Emirates Aluminum Company to Build World Largest Smeltery Emirates Aluminum Company (EAC) completed the financing of the world’s largest aluminum semltering factory in Abu Dhabi. The overall cost of the project is $4.9 billion with an initial annual production capacity of 700 tons that will double by the completion of the second phase. EAC is a joint venture between Moubadala Development Company and Dubai Aluminum that will further the expansion of the project to reach $7 billion. City Group and Sullivan & Cromwell acted as the financial and legal consultants of the project in addition to a consortium of banking institutions that financed the deal including Goldman Sachs, Export Finance and Insurance Company, Abu Dhabi Bank, Royal bank of Scotland, BNP, Standard and Chartered and Somitomo to name a few. EAC started operations in 2007 in Abu Dhabi’s Tawile area and is due
