Dubai: Ducab Group, one of the UAE’s largest manufacturing businesses, signed a memorandum of understanding (MoU) with Egypt’s Ministry of Military Production, represented by Helwan Non-Ferrous Industries Company (Factory 63 Military), for establishing a joint venture entity to manufacture medium-voltage cables in Egypt.
This aims to contribute to the domestic manufacturing ecosystem of the country as well as drive economic growth and exports.
The MoU was signed by Muhammad Almutawa, CEO of the Ducab Group, and Muhammad Farouk Al-Ashmawy, Chairman of the Board of Directors of Helwan Non-Ferrous Industries, in the presence of Mohamed Salah El-Din Mustafa, Minister of State for Military Production, Dr. Mohamed Shaker Al-Marqabi, Minister of Electricity and Renewable Energy, Dr. Hala Helmy Al-Saeed, Minister of Planning and Economic Development, and Maryam Khalifa Al-Kaabi, UAE Ambassador to Egypt.
"The agreement underlines our commitment to be a leading provider of energy solutions regionally and globally and builds on the strong bilateral relations between the UAE and Egypt. It complements the strong synergies shared by the two countries in the manufacturing sector," said Mohammed Almutawa, CEO of Ducab Group.
“Today, Ducab exports 60 per cent of its products to over 55 markets, supported by our strong expertise and high-quality integrated solutions. We are committed to the ‘Make it in the Emirates’ initiative and contribute to the nation’s Operation 300 bn strategy.”
Mohamed Salah El-Din Mustafa, Minister of State for Military Production, said the 63 Military Factory is currently producing low-voltage cables. The MoU will enhance cooperation to establish a new entity in Egypt to manufacture medium-voltage cables that will meet the needs of the country, contribute to exports and support domestic economic growth.
“Helwan Non-Ferrous Industries and Ducab have proven technological, industrial, and technical capabilities, and through the agreement, the two entities will focus on transfer knowledge and the joint manufacturing of high-quality medium-voltage cables.”
