(MENAFN) According to a global report, Gulf investments in the aluminum sector are expected to reach USD55 billion by 2020, compared with USD30 billion in 2011, Gulf Daily News reported.
The aluminum production value in the Gulf region is set to increase, reaching 5 million tons by 2015, amounting to 17.5 percent for the total global output, added the report, which was published by global aluminum market analyst Harbor Intelligence.
Compared to 2012, aluminum production in the Gulf region amounted to 3.7 million tons, which accounted for 11 percent of the total world production, the report added
Statics show that aluminum industry in the Gulf is growing 8.4 percent annually, compared to an average of 3.5 percent in the annual global growth, making the Middle East region the fastest growing aluminum market in the world.
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