(MENAFN - Saudi Press Agency) Aamal Company QSC (Aamal), one of the GCC's fastest growing diversified conglomerates, has announced that its subsidiary Doha Cables, described as 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 by Qatar's Minister of Industry and Energy Mohamed bin Saleh Alsada and Faisal bin Qassim Al-Thani, chairman of Aamal, in the presence of Ahmed Elsewedy, president of Elsewedy Electric.
The contract, valued at QR1.8 billion (494 million) over an initial two-year period, is part of KAHRAMAA's current program 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.
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, recognizing 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 industrialization of the wider Qatari economy."
Vice Chairman of Aamal Mohamed bin Faisal Al-Thani and 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, Ahmed Elsewedy said: "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."
R'aouf Hassn, CEO of Doha Cables, said: "Doha Cables is a well equipped state-of-the-art facility and we are looking forward to take part in Qatar's growth and prosperity."