Al-Braik appoints Jefferies to raise smelter funds
Investment bank appointed to secure finance for KIZAD silicon facility
Al-Braik Investments has appointed US investment bank Jefferies LLC to help raise the funds needed to build the Middle East's first silicon metal smelter.
Al-Braik has already gained approval to reserve a 3.4m ft2 plot within the Khalifa Industrial Zone in Abu Dhabi.
It has also signed a long lease agreement to build a $200m smelter to produce high-grade silicon that is commonly used in the aluminium industry to strengthen alloys.
Shukri Al-Braik, chairman of Al-Braik Investments, said: “Our agreement with Jefferies is a clear demonstration of the confidence invested in the success of this project, facilities and infrastructure available to us at KIZAD”.