Dubal Holding net profit reaches AED 3.7B in 2022, up by 37% from the previous year, attributed to strong investments across various industrial sectors and efficient operational performance.
The company’s Sohar Titanium Project in Oman also showed progress and is expected to start operating in 2025. Dubal Holding aims to make global investments in multiple industries for long-term financial returns and growth, while also contributing to sustainability initiatives such as the Dubai Industrial Strategy 2030 and the Dubai Clean Energy Strategy 2050.
In addition, Dubal Holding signed an MoU with Nature Alu to conduct a feasibility study for the construction of the first-ever Super High Purity Aluminium facility in Canada. The company also signed a contract for the front-end engineering and design of a large-scale plastic to liquid facility in Dubai, which is expected to make a significant contribution to the circular economy and sustainability initiatives of the UAE Government.
Additionally, a sustainability driven contract was signed for DH’s front-end engineering and design (FEED) of a large-scale plastic-to-liquid facility in Dubai. By repurposing low-quality polymers nearing their end of life to create value products, the factory is anticipated to make a substantial contribution to the circular economy and sustainability initiatives of the UAE Government.
Abdulla Jassem Kalban, vice-chairman of Dubal Holding, said: “By evaluating previous year’s efforts of investing in long-term, high-yield projects that support the national economy and contributing to the sustainability goals, we are honoured to profess that DUBAL Holding continues to fulfil its commitment towards its objective of strengthening UAE’s economy.”
The company also partnered with Imdaad to invest in a variety of sustainability programmes and projects in Dubai. Dubal Holding owns a 19 percent ownership in Sinoway Carbon Company Ltd, a factory that produces calcined petroleum coke in China’s Shandong Province, and a 96 percent share in OSE Industries LLC, an aluminium extrusion business with headquarters in Dubai, United Arab Emirates. After successfully completing the OSE expansion project in 2022, the company was able to raise its capacity by 50 percent, to 12,000 tonnes annually.
“The year 2022 was particularly noteworthy for Dubal Holding as it expanded its portfolio of acquisitions. In order to meet the demands of both new and existing automotive, EV, HVAC, and other industrial clients, our expansion project at OSE increased capacity. To focus on domestic and foreign acquisitions and support OSE’s larger goal of becoming a Top 3 Player globally, we expanded our stake in OSE.”