Aamal's Joint Venture, Elsewedy Cables Qatar, awarded QAR 1.2 billion contract with Kahramaa
Doha, Qatar – 14 February 2024 – Aamal Company Q.P.S.C. (“Aamal”), one of the region’s leading diversified companies, is pleased to announce that Elsewedy Cables Qatar – a subsidiary of Senyar Industries Qatar Holding W.L.L., one of Qatar’s leading industrial groups, in which Aamal is a 50% shareholder – has been awarded a 3-year contract worth QAR 1.2bn by Qatar General Electricity & Water Corporation (“Kahramaa”) for the supply of low and medium voltage cables.
Mr. Rashid bin Ali Al Mansouri, CEO of Aamal, commented: "We are very pleased to announce this significant contract win as through Aamal subsidiaries and joint ventures, Aamal is seen as a trusted contributor to Qatar’s growth and development, playing a key role in major mega projects.
This contract win also highlights Elsewedy Cables Qatar position as a premier supplier capable of meeting the demands of large-scale projects in Qatar. We are proud of Elsewedy Cables Qatar's sustained market leadership over nearly two decades, the result of continuous investment and expansion of its product portfolio. Aamal remains well-positioned to capitalize on different opportunities across many economic sectors, delivering value for all our stakeholders."
Ahmed Fathy Elswedy, Executive Vice President of Senyar Industries Qatar Holding, commented: "We are pleased to announce that Kahramaa has awarded Elsewedy Cables Qatar such a significant project for the supply of low and medium voltage cables. Through its quality products, expertise and unwavering dedication, Elsewedy has a long track record of contributing to Qatar's infrastructure advancements. We have a longstanding relationship with Kahrama, successfully delivering projects through our commitment to meeting deadlines and providing incomparable products. We are committed to remaining a reliable partner, supporting Qatar’s growth and 2030 vision. Our extensive range of high-quality products, coupled with our expertise and dedicated team, will continue to underpin our success."
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Aamal Company |
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Laura Ackel – Corporate Communications Officer |
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About Aamal Company Q.P.S.C.
Aamal is one of the region’s most diversified companies and has been listed on the Qatar Stock Exchange since December 2007. As at 12 February 2024, the Company had a market capitalisation of QAR 5.22 Bn bn (US$ 1.43 bn).
Aamal’s operations are widely diversified and comprise 31 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar’s wider economic growth and development.
For further information on Aamal Company, please refer to the corporate website: http://www.aamal.qa
About Senyar Industries Qatar Holding W.L.L.
Senyar Industries Qatar Holding is one of Qatar’s leading industrial groups, established in 2007 as partnership between Aamal Company Q.P.S.C. and El Sewedy Electric, the Middle East’s leading integrated cables and electrical products manufacturer. Senyar Industries aims to establish an integrated cycle for cable manufacturing and bespoke project implementation which is the first of its kind in Qatar. Senyar Industries Qatar Holding has 4 main interests: Doha Cables, Senyar Factory for Drums, Senyar Copper Factory and El Sewedy Cables Qatar. Aamal Company holds a 50% stake in Senyar Industries Qatar Holding.
About Elsewedy Cables Qatar
Aamal Company has a 38.3% interest in Elsewedy Cables Qatar.
El Sewedy Cables Qatar commenced operation in 2006 and specialises in the distribution of electromechanical equipment, products from Doha Cables and third-party manufacturers, and providing bespoke solutions for commissioned projects.
