Business | Investment
EIIC to invest Dh1.8 billion to set up six new cable factories globally
Emirates International Investment Company (EIIC) said on Saturday that it plans to build six high-tech factories in the UAE, Saudi Arabia, Algeria, Romania and Vietnam, worth Dh1.8 billion.
- Staff Report
- Published: 11:07 May 10, 2008
Abu Dhabi: Emirates International Investment Company (EIIC) said on Saturday that it plans to build six high-tech factories in the UAE, Saudi Arabia, Algeria, Romania and Vietnam, worth Dh1.8 billion.
To meet the demand, EIIC is estimating production levels of 40,000 tonnes per year of copper and 7,000 tonnes of aluminium low, medium and high voltage cables, all of which will adhere to the best international standards.
EIIC has already begun work on two UAE-based factories in Mussafah, Abu Dhabi: the first manufacturing aluminium rods estimated to produce 100,000 tonnes a year, and the second manufacturing magnetic wires estimated to produce 25,000 tonnes a year.
It plans to boost production of copper cables at its Algeria factory to 60,000 tonnes a year to meet the demand in the Algerian and North African markets.
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