In The Spotlight
Aluminium Bahrain plans to acquire Aluminium Dunkerque, strengthening its global low-carbon aluminium strategy and European presence. (Image source: Alba)
Alba advances acquisition of Aluminium Dunkerque facility
Aluminium Bahrain B.S.C. (Alba) has announced plans to acquire Aluminium Dunkerque, the European Union’s largest aluminium smelter, in a deal valued at around US$2.2bn
The proposed transaction forms part of Alba’s ambition to establish a global low-carbon aluminium platform and was announced alongside current owner American Industrial Partners (AIP) and French public investment bank Bpifrance, which is set to become a minority shareholder in the business.
Following completion of the transaction, Alba will take full ownership of Aluminium Dunkerque through a deal valued at around US$2.2bn. The acquisition will be financed entirely through a consortium of Alba’s banking partners. Under the terms of the MoU, Bpifrance will invest €100mn in the transaction, securing a 6% shareholding in Aluminium Dunkerque, subject to the necessary regulatory and customary approvals. The investment bank will also be represented on the board of the smelter’s holding company.
The participation of Bpifrance as a minority shareholder and board member is intended to reinforce Aluminium Dunkerque’s strategic role within France’s industrial sector while strengthening its regional presence.
His Excellency Shaikh Salman bin Khalifa Al Khalifa said the agreement reflects the strong economic relationship between Bahrain and France while highlighting the confidence global investors continue to place in Bahrain. He noted that the deal further reinforces the Kingdom’s position as a competitive industrial centre with the talent and capabilities required to pursue opportunities internationally.
Khalid Amro Al-Rumaihi, chairman of Alba’s board of directors, emphasised the importance of Aluminium Dunkerque as a strategic French industrial asset. He described the acquisition as a significant milestone for Alba, demonstrating confidence in the company’s future growth potential while supporting the development of a more diversified and internationally competitive industrial platform. He added that the transaction creates opportunities to strengthen industrial resilience in both Bahrain and France while deepening economic and industrial cooperation between the two countries.
"Alongside Alba, Bpifrance’s investment in Aluminium Dunkerque underscores our commitment to securing and reinforcing the long-term future of this strategic industrial site. By joining forces, we are not only supporting the growth of a key player in the European aluminium sector but also ensuring that Aluminium Dunkerque remains a cornerstone of France’s industrial resilience and innovation. Together, we will work to strengthen the site’s industrial project, fostering sustainable development and competitiveness for years to come," remarked Nicolas Dufourcq, CEO at Bpifrance.
“We are pleased to mark an important step in the transition of Aluminium Dunkerque’s ownership to Aluminium Bahrain. Over the past four months, the process has advanced smoothly as expected thanks to the constructive work among all parties and a shared commitment to responsible execution. We remain confident that Alba is the right long-term owner for Aluminium Dunkerque and will be a strong partner for France in supporting the company’s continued development and strategic role in Europe. Aluminium Dunkerque’s success during our ownership reflects France’s enduring attractiveness as a destination for long-term industrial investment, supported by its strong industrial base, skilled workforce and commitment to decarbonisation,” concluded Dino Cusumano, general partner at AIP.
Based in Loon-Plage near Dunkerque, the facility has an annual production capacity of approximately 300,000 tonnes of aluminium. Supported by advanced automation systems, integrated operations and a skilled workforce, the smelter is well positioned to meet rising demand across Europe for low-carbon and sustainably produced aluminium.
Around US$2.2 trillion is expected to go to grids, storage, low-emissions fuels, nuclear, renewables, efficiency and electrification in 2026. (Image source: Adobe Stock)
Energy security concerns reshape global investment priorities: IEA
Global energy investment is projected to reach US$3.4tn in 2026 as countries continue to strengthen electricity systems, expand clean energy deployment and invest in more resilient energy infrastructure, according to the International Energy Agency's (IEA) World Energy Investment 2026 report
The report forecasts that around US$2.2tn will be directed towards grids, energy storage, low-emissions fuels, nuclear power, renewables, efficiency measures and electrification this year. Investment in oil, natural gas and coal is expected to total approximately US$1.2tn.
Electricity-related spending remains the dominant theme in global energy markets. Investment in electricity supply and infrastructure is set to reach nearly US$1.6tn in 2026, rising to almost US$2tn when end-use electrification is included. Spending on electricity grids is expected to approach US$550bn, while battery storage investment is projected to exceed US$100bn.
Renewable energy continues to attract significant capital, with investment in renewable power projects expected to reach US$665bn, including US$365bn for solar energy alone. Nuclear energy is also gaining momentum, with annual investment exceeding US$80bn and close to 80GW of new nuclear capacity currently under construction across 15 countries.
However, the report notes that energy security has become an increasingly important factor in investment decisions following the latest disruption to global energy markets.
The ongoing conflict in the Middle East and the effective closure of the Strait of Hormuz have triggered fresh concerns over the reliability of energy supplies and international trade routes. According to the IEA, the resulting supply shock is prompting governments and companies to reassess risk and accelerate diversification strategies.
The impact has been particularly pronounced in Asia and the Middle East, where disruptions to shipping flows through the Strait of Hormuz have affected energy markets and reinforced the need for alternative supply routes and domestically available energy resources.
"We are in the midst of the largest energy security crisis the world has ever faced – and I believe this will reshape investment strategies globally, with parallels to the major changes the energy world witnessed after the oil shocks of the 1970s," said IEA executive director Fatih Birol.
"We are already seeing intensified efforts by both producer and consumer countries to diversify trade routes and energy sources – such as advancing new pipelines and other supply infrastructure, on the one hand, and turning more to domestically available resources, on the other. These range from renewables and nuclear to coal, oil and gas, in some cases – as well as broader measures to strengthen electricity systems, expand electrification and accelerate energy efficiency."
While oil prices remain elevated, upstream oil investment is expected to decline for a third consecutive year, falling below US$500bn. The report attributes this to uncertainty over the duration of the price spike, long project lead times, supply chain constraints and tighter offshore rig markets.
Natural gas investment, meanwhile, is forecast to reach US$330bn, the highest level in a decade, supported by new LNG export developments, particularly in the United States and Qatar.
The report also points to rising investment in energy efficiency, with approximately US$350bn being invested globally each year. More than 20 countries have already announced new efficiency policies in response to the current crisis.
At the same time, increased market volatility linked to the Middle East conflict is raising financing costs and slowing investment decisions in some regions. The IEA warns that higher financing costs could disproportionately affect capital-intensive energy projects, particularly in emerging and developing economies.
As governments and industry respond to another major energy shock, the report suggests that diversification, electrification and stronger energy security measures will remain central to investment decisions in the years ahead.
Read the full World Energy Investment 2026 report for a comprehensive analysis of global and regional energy investment trends here
EMSTEEL launches ES600 high-strength rebar for UAE projects
EMSTEEL Group has introduced ES600, a new high-strength reinforcing steel product designed for demanding construction applications, marking the highest-grade rebar currently manufactured in the UAE.
The launch was unveiled at the company’s “Building the UAE’s Future Together” event held in Dubai on 21 May, where industry stakeholders from engineering, construction and manufacturing sectors gathered to explore how advanced materials are shaping the next phase of urban development across the country.
Developed for use in high-rise structures and large-scale infrastructure works, ES600 has been engineered to deliver enhanced structural performance while reducing overall material usage. The product is aligned with national industrial goals, including the UAE’s broader push towards advanced manufacturing and economic diversification under Operation 300bn.
Certified to meet both local and international standards, the rebar is designed to improve construction efficiency by reducing steel consumption by an estimated 18% to 24%, depending on project design and requirements. This reduction also helps ease logistical pressures by lowering transport volumes and minimising congestion on construction sites.
According to EMSTEEL, the efficiency gains also translate into environmental benefits. The company estimates that for every 10,000 tonnes of ES600 used, around 12,107 tonnes of carbon dioxide emissions can be avoided through reduced material production and transportation requirements. In multi-storey buildings, this can equate to approximately one tonne of CO2 savings per floor.
The material is already being deployed across a range of residential towers, mixed-use developments and major infrastructure projects throughout the UAE. Current and secured orders have exceeded 200,000 tonnes, reflecting strong demand from developers involved in large-scale urban expansion projects.
Eng. Saeed Ghumran Al Remeithi, Group Chief Executive Officer of EMSTEEL, said the introduction of ES600 reflects the UAE’s shift towards higher-value industrial production and more advanced engineering capability within the construction sector.
He noted that the company’s continued investment in innovation is aimed at strengthening local manufacturing capacity while supporting more efficient and resilient building practices. He also highlighted EMSTEEL’s role as a long-term industrial partner contributing to national economic diversification and infrastructure development goals.
Following the completion of its AED 625 million Asset Enhancement Programme, EMSTEEL is set to expand production capacity for ES600 and introduce upgraded processing systems to support higher-strength reinforcement products. The expansion is expected to further enhance operational efficiency and meet growing demand for sustainable construction materials across the region.