Emirates International Investment Company reveals ambitious AED1.8bn plan to establish six hi-tech cable factories globally |
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The company is to build factories in UAE, KSA, Algeria, Romania and Vietnam Abu Dhabi 10 May 2008: As part of its strategy to broaden its international presence and develop its business units, the Emirates International Investment Company (EIIC)Emirates International Investment Company (EIIC)
has announced ambitious plans to build six hi-tech factories in the UAE, Kingdom of Saudi Arabia (KSA), Algeria, Romania and Vietnam, at a value of AED1.8billion. EIICEIIC's decision to construct these factories in Kingdom of Saudi Arabia (KSA), Algeria, Romania and Vietnam comes at a time when the region is experiencing a great construction boom. To satisfy market demand, EIICEIIC is estimating production levels of 40,000 tonnes/year of copper and 7,000 tonnes/year of aluminium low, medium and high voltage cables, all of which will adhere to best international standards.
EIICEIIC has already begun construction on two UAE-based factories in Mussafah, Abu Dhabi: the first manufacturing aluminium rods producing 100,000 tonnes/year, and the second manufacturing magnetic wires producing an estimated 25,000 tonnes/year.
Mr Omar Younis, General Manager of EIICEIIC-owned Electrocab which is managing the factories, stated that the company plans to boost production of copper cables in its Algeria factory to 60,000 tonnes/year in order to meet demand in the Algerian and North African markets. He confirmed that the KSA, Romania and Vietnam factory blueprints are completed and the sites have already been selected.
Mr. Younis insists quality is the priority for EIICEIIC. "We have secured a team of specialised cable professionals who will ensure top-notch quality management for all our products and that they follow international requirements. First-class machinery has been sourced from Europe's leading suppliers to outfit all of our factories."
-Ends-
© Press Release 2008
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