Last Updated : GMT 23:11:07
Arab Today, arab today
Arab Today, arab today

New Ducab unit to export 75% of output to Gulf, Europe and Africa

Arab Today, arab today

Arab Today, arab today New Ducab unit to export 75% of output to Gulf, Europe and Africa

Dubai - Arabstoday

Ducab\'s Dh500 million high voltage (HV) cable plant, which opened yesterday, is expected to export 75 per cent of its production to GCC, European and African markets, according to a top company executive. His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, inaugurated Ducab HV yesterday and took a tour of the plant. The opening ceremony was also attended by Shaikh Hamed Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince\'s Court, who said this is one of several joint ventures coming up between Abu Dhabi and Dubai. \"Ducab is a facility that has historical value and shows the economic integration between the emirates. It is an important achievement. We hope there is more success achieved in the industrial sector because we need this sector in a bigger way,\" he said. \"There will soon be industrial partnerships like Emal, and others are on the way, God willing.\" Ahmad Al Shaikh, Chairman of Ducab and Ducab-HV, told reporters at the inauguration: \"The products of any factory specialising in these cables are not used domestically because there is insufficient infrastructure to justify their use — so our aim is always to export.\" Ducab HV has allocated ten per cent of its sales to the Dubai Electricity and Water Authority and the Abu Dhabi Water and Electricity Authority, who are each 25 per cent owners in the plant, he said. \"The partnership with the utility companies is the key,\" said Jon Vail, CEO of Ducab HV. Ducab HV is hoping to grab 50 per cent of the UAE market share, which will lead to a quarter of its production being sold domestically, he said. Incremental increase Production will begin at ten per cent capacity in the first year and is scheduled to increase incrementally to 30 per cent in 2012, 50 per cent in 2013 and 75 per cent in 2014, Vail added. Ducab shareholders shouldered 40 per cent of the project funding and 60 per cent was obtained through bank loans, primarily from Noor Islamic Bank, Al Shaikh said. The Dh500 million cost was split between Dh200 million in construction, Dh200 million in equipment and Dh100 million as working capital. The return on investments is expected in eight years, Al Shaikh said, adding that fluctuations in copper prices are a determining factor. \"African countries need more infrastructure and there is increasing demand for this type of cable. Europe already has infrastructure but it needs updating, and this means demand for cable,\" he said, adding that the debt crisis in Europe will mean a \"lower percentage\" of business than usual with the continent.\" The unrest in Libya had initially halted Ducab shipments to the country but there is an opportunity to enhance co-operation with the new government now, felt Al Shaikh. Future plans Ducab is also planning to open a specialised cable factory in Qatar, but this is an idea under study, according to Al Shaikh. Domestic demand for Ducab\'s HV cables is expected from utilities, big businesses and international companies that take over entire energy stations. The new plant will generate 130 jobs and 25 per cent of the work force is made up of Emiratis, Al Shaikh noted. The target is 50 per cent of nationals at the managerial level and higher technical posts.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today new ducab unit to export 75 of output to gulf europe and africa Arab Today, arab today new ducab unit to export 75 of output to gulf europe and africa


Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today Holiday magic is everywhere

GMT 13:04 2016 Saturday ,03 December

Holiday magic is everywhere
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today As nearly 20,000 children flee Aleppo

GMT 07:50 2016 Saturday ,03 December

As nearly 20,000 children flee Aleppo
Arab Today, arab today What next after landmark

GMT 09:01 2016 Saturday ,03 December

What next after landmark
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Dino-killing crater shows clues

GMT 14:43 2016 Thursday ,24 November

Dino-killing crater shows clues
Arab Today, arab today For Yazidi women left behind

GMT 08:00 2016 Saturday ,03 December

For Yazidi women left behind
Arab Today, arab today Green groups pressure Spain

GMT 13:01 2016 Thursday ,01 December

Green groups pressure Spain
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today Austria's race against time

GMT 11:44 2016 Thursday ,01 December

Austria's race against time
Arab Today, arab today Car manufacturers to power Europe

GMT 13:01 2016 Tuesday ,29 November

Car manufacturers to power Europe

GMT 12:45 2016 Tuesday ,29 November

To find German funny bone

GMT 13:52 2016 Monday ,28 November

Punk memorabilia torched

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 12:39 2016 Friday ,25 November

Arctic 9-12C above normal

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:19 2016 Monday ,21 November

New nationalism stoking fears

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday