May 12 2008 |
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UAE: EIIC set to invest Dh1.8b on cable aluminium units
ABU DHABI -- Emirates International Investment Company, or EIIC , has announced an ambitious plan to build six hi-tech factories in the UAE, Saudi Arabia, Algeria, Romania and Vietnam by investing Dh1.8 billion.The Saudi Arabian, Romanian and Vietnam factory blueprints are completed and the sites have already been selected.
EIIC 's decision to construct these factories in the five countries 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 metric tonnes per annum of copper and 7,000 metric tonnes annually of aluminium low, medium and high voltage cables.
EIIC has already begun construction on two UAE-based factories in Mussafah, Abu Dhabi. The first unit manufacturing aluminium rods producing 100,000 metric tonnes per annum while the second unit manufacturing magnetic wires producing an estimated 25,000 metric tonnes annually.
By Haseeb Haider
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