Doha Cables contract
PRESS RELEASE:
For immediate release
Aamal Company’s subsidiary – Doha Cables awarded contract worth US$494m to supply power cables to Qatar General Electricity & Water Corporation ‘KAHRAMAA’
Doha, Qatar – 17 August 2011 – Aamal Company Q.S.C. (“Aamal”), one of the GCC’s fastest growing diversified conglomerates, is pleased to announce that its subsidiary Doha Cables, Qatar’s first and largest domestic cable manufacturer, has been awarded a two year contract by Qatar General Electricity & Water Corporation “KAHRAMAA” to supply low voltage (0.6/1kV) and medium voltage (11kV) power cables equal to approximately 42,000 tons of copper through a competitive tendering process.
The contract has been signed yesterday by H.E Dr. Mohamed Bin Saleh Alsada, Minister of Industry and Energy for the State of Qatar, H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal and in the presence of Mr. Ahmed Elsewedy, President of Elsewedy Electric.
The contract, valued at QAR1.8 billion (US$494m) over an initial 2 year period, is part of KAHRAMAA’s current programme to meet the growing demand for power in Qatar which it forecasts will almost double to 8GW by 2013. Its award to Doha Cables is a further demonstration of Aamal’s strategy to develop new business streams in high growth sectors and to capture opportunities derived from Qatar’s ongoing investment in infrastructure and industrial diversification under the 2030 National Vision and the award of the 2022 FIFA World Cup.
Doha Cables is a subsidiary of Senyar Industries, a 50:50 joint venture between Aamal and Elsewedy Electric Egypt, the Middle East’s leading integrated energy solutions provider.
Doha Cables’s state-of-the-art, 70,200 sq. m. manufacturing facility opened officially in May 2010 with a production capacity of 40,000 tons of copper per annum making it one of the largest production facilities in the MENA region. It is one of only two local companies licensed to operate in Qatar by the government to have commenced production, Following the award of this contract, Doha Cables intends to double its production capacity to meet the increased demand.
His Excellency Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company said:
“This is a very significant contract win for us and I am delighted that Kahramaa has decided to select Doha Cables from a shortlist of four, recognising the quality of our business and products. The award of this contract is another significant step in our goal to build market leading positions in high growth sectors while supporting the diversification and industrialisation of the wider Qatari economy.”
Vice Chairman of Aamal Sheikh Mohamed Bin Faisal Al Thani / Tarek El Sayed, Managing Director of Aamal Company added:
“This contract has been won through the hard work and dedication of our employees coming less than one year after the opening of our new plant. I would like to thank all of our staff and partners who have helped to secure this prestigious contract which demonstrates the successful implementation of our corporate strategy”
President of Elsewedy Electric, Mr. Ahmed Elsewedy added:
“We are proud to be awarded this valuable contract and win the trust of Kahramaa. Running successfully 30 production facilities in Africa, Middle East, Asia and Europe, we are honored to bring our 25 years of experience in cable manufacturing to Qatar market.”
Engineer R’aouf Hassn, CEO of Doha Cables concluded:
“Doha Cables is well equipped state of the art facility and we are looking forward to take part of Qatar growth and prosperity.”
Enquiries
| Aamal Company | |
|---|---|
| Arwa Goussous, Corporate Communications Manager | + 974 5513 9539 |
| Citigate Dewe Rogerson | |
| Seb Hoyle | +974 452 8335 |
| Habib Bacha (for Arabic media) | +971 (0)2 401 2612 |
ABOUT AAMAL COMPANY QSC
Aamal Company is one of the GCC’s fastest growing diversified conglomerates, delivering a CAGR in operating profit of 23% from 2006-2010 and generating revenues of QAR 1,217m (US$334m) in 2010. Focused on sustained, profitable growth and strongly diversified for balanced exposure across Qatar’s rapidly growing economy, Aamal’s operations comprise 22 business units with market leading positions in the key industrial, retail, property, managed services and medical equipment and pharmaceutical sectors. Aamal is one of the largest diversified companies quoted on the Qatar Exchange, having been listed since December 2007.
ABOUT ELSEWEDY ELECTRIC
With roots that go back over 70 years, Elsewedy Electric operates in eight diverse energy sectors, incorporating cables & accessories, electrical products, energy measurement & management, transformers, communications, wind energy generation, solar energy solutions and projects & development, running 30 production facilities in 14 countries in Africa, Middle East, Asia and Europe, exporting a wide range of high quality, safe products to more than 110 countries.
ABOUT KAHRAMAA
KAHRAMAA is the sole transmission and distribution system owner and operator for the electricity and water sector in Qatar.
Qatar General Electricity and Water Corporation “KAHRAMAA” was established in July 2000 to regulate and maintain the supply of electricity and water to its customers. Since its inception, KAHRAMAA has operated as an independent corporation on a commercial basis and has a current market capitalisation in excess of QAR15bn (US$4.1bn).
