Jun 10 2008 |
more articles from
|
Ducab opens new plants to meet rising demand
Abu Dhabi: Ducab , the joint venture between the governments of Dubai and Abu Dhabi for cable manufacturing, on Monday inaugurated two new plants in Abu Dhabi for copper rod production and new cables manufacturing.The new facilities were inaugurated by Shaikh Hamed Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince's Court, Chairman of the Higher Authority for Specialised Economic Zones (Zonescorp) , and Member of the Executive Council.
"This project sets an example for the fruitful cooperation between the governments of Abu Dhabi and Dubai, and will serve in meeting the growing demand for cables in the country," Shaikh Hamed said.
"Our market share in the UAE stands at 28 to 30 per cent, but after the expansion this share will increase to 40 to 45 per cent," Ahmad Bin Hassan Al Shaikh, Ducab 's chairman, said.
With an investment of $45 million, the copper rod plant is the first of its kind in the UAE. It covers 3,000 square metres and has an annual capacity of 110,000 tonnes, which can be expanded to 160,000 tonnes. "The new cable factory is dedicated to the production of magnetised wire for engines and generators. It covers 105,000 square metres and can produce 25,000 tonnes of copper and 7,000 tonnes of aluminium," Al Shaikh said.
The capacity of the cables factory can be expanded to 40,000 tonnes of copper and 15,000 tonnes of aluminium.
The cables factory is the outcome of a strategic alliance between Ducab and Emirates International Investments Company . Officials refused to reveal the investment involved.
"We have reported more than Dh2.4 billion in revenues for 2007, and with the new plants our annual revenues will increase to Dh3.8 billion, a 50 per cent hike," the chairman said.
Expansion: Looking abroad
The expansion of
Ducab
's production capacity is not sufficient to meet the growing demand in the country a top official said yesterday.
"This expansion will not be sufficient for the UAE and the management is already considering overseas expansion plans," Shaikh Hamed Bin Zayed Al Nahyan said.
"The UAE's production of cables is still very much short of meeting the growing demand, but these new facilities will surely help to reduce the gap," Jaber Al Khaili, Zonescorp 's chief executive officer, said.
Shaikh Hamed expressed his strong support for allowing 100 per cent of foreign ownership of projects in the UAE.
"This will be a very healthy move, given that we carefully consider these foreign investments and the benefits generated for the economy," he said.
By Ahmed A. Elewa
© Gulf News 2008
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment