Dubal annual profits jump 37% in 2022

Dubal annual profits jump 37% in 2022

Dubal Holding on Wednesday announced a net profit of Dh3.7 billion in 2022, an increase of 37 per cent from the previous year’s figure of Dh2.7 billion on the back of strong investments in multiple industrial sectors and efficient operational performance.

The group’s Sohar Titanium Project in Oman also made good progress during the year and is scheduled to commence operation in 2025.

“We are on track to make global investments in multiple industries to provide long-term financial returns and growth for our shareholders. Dubal Holding’s investments are also motivated by the ambition to build a more sustainable future and have contributed to important programmes like the Dubai Industrial Strategy 2030 and the Dubai Clean Energy Strategy 2050,”said Saeed Mohammed Al Tayer, chairman of Dubal Holding.

Moreover, Al Tayer was also informed about Dubal Holding also signed an MoU with Nature Alu, Canada, to conduct a thorough feasibility study to build the first-ever Super High Purity Aluminium (SHPA) facility of its kind in the country. This facility will produce high purity aluminium grades of 4N and above, with uses in specialised industries like capacitor foils, semi-conductors, lithium-ion batteries, etc.

Additionally, a sustainability driven contract was signed for DH's front-end engineering and design (FEED) of