May 10 2008 |
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Emirates International Investment Company reveals ambitious AED1.8bn plan to establish six hi-tech cable factories globally
The company is to build factories in UAE, KSA, Algeria, Romania and VietnamAbu 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) 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.
EIIC '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, EIIC 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.
EIIC 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. Younis insists quality is the priority for EIIC . "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."
© Press Release 2008
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