Mubadala inks deal for China petroleum coke JV

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Publish time: 3rd November, 2011      Source: ChinaCCM
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Abu Dhabi's Mubadala is planning to build a petroleum coke facility in Zhenjiang, China, in JV with the Jiangsu Surun High Carbon Company.

Mubadala said in a statementhat the JV called Suyadi will help supply aluminum smelting plants in the UAE. Construction is expected to start towards the end of 2011 with first production set for export by the end of 2012.

Mr Waleed Al Mokarrab Al Muhairi COO of Mubadala said that "This JV is an important component of our globally integrated portfolio of businesses that support the growth of the UAE's aluminum industry and we are honored to have Surun as a strategic partner."

Mr Su Qishan chairman and president of Zhenjiang Coking Gas Group Company said that "As the industry leader of CPC production in China we are committed to furthering the domestic CPC industry, one that has been steadily growing in importance. This vision is shared by Mubadala and we will work towards this aim through the mutual exchange of best practices and technical expertise."