Ducab announces AED 700 million sales in first half of 2006
Ducab, the leading manufacturer of high-quality
power cables in the Middle East, has achieved record sales worth AED 700
million for the first half of 2006.
United Arab Emirates.
During the first half, Ducab won a string of major utilities contracts,
from Dubai Electricity and Water Authority (DEWA) Federal Electricity
and Water Authority (FEWA), Saudi Electric Company and Abu Dhabi Water
and Electricity Authority (ADWEA) worth a total of over AED 600 million.
2006 marks Ducab's strong performance within the Oil, Gas and
Petrochemical sector. Ducab received orders from Bechtel Huston - USA,
Snamprogetti SpA - Italy, S.K. Engineering - Korea, Chiyoda Corporation
- Japan, Technip - France and other reputed international EPC
contractors. The orders were for the supply of MV & LV cables to major
projects around the region including AGD II, OGDIII, NGL III in Abu
Dhabi, KOC upgrade in Kuwait and Ras Gas in Qatar.
Colin Paskins, Managing Director, Ducab, said,
'This has already been an extremely successful year for us and
all indicators of growth have been particularly positive. The
impressive sales result is certainly commendable by any standards,
and we are glad that we have efficiently catered to the growing
demand for high quality cables in the region. In the last few months
we have signed deals with several major clients from the government
and private sector and we look forward to maintaining this momentum
for the rest of the year.'
Ducab also announced that its Abu Dhabi factory, which recently
completed one year of operation, has a new building wire manufacturing
facility which is now fully operational.
The Abu Dhabi factory was recently awarded an ISO 14001 Environmental
Management System certificate and an OHSAS 18001 Occupational Health and
Safety certificate by BASEC (British Approval Services for Cables).
These certifications are the latest in a string of recognitions achieved
by the company. |
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Qatar-UAE
pipeline 'to go ahead'
 A
UAE-based company has said it has not received any objection from
neighboring Saudi Arabia about its pipeline to carry Qatari gas to
the United Arab Emirates.
Financial news
agency Bloomberg reported on Tuesday that Saudi Arabia had sent a
letter to an Abu Dhabi bank saying it had not approved the line
crossing its territory.
The pipeline
company said in a statement: "Dolphin Energy has not received any
objection or protest from any country concerning the pipeline
project that runs exclusively within the maritime areas of the
states of the United Arab Emirates and Qatar."
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A Gulf source
told Reuters: "A project of this size and partners of this caliber
cannot be agreed upon without first checking all legal and related
documents."
Dolphin Energy
is 51%-owned by Mubadala Development Company, an investment vehicle
of the government of Abu Dhabi, and France's Total, and US
Occidental Petroleum hold 24.5% each.
Dolphin said the
pipeline, part of a $3.5 billion project, would be completed within
a few weeks.
Gulf neighbors
Saudi Arabia and Qatar have strained political relations over a
number of issues.
Disagreement
Riyadh has
objected to the construction of another gas pipeline from Qatar to
Kuwait, and Qatar's oil minister has said that the project had been
scrapped for that reason.
There is also a
disagreement between Saudi Arabia and the UAE, under which the
United Arab Emirates ceded to Saudi Arabia a strip of land linking
the UAE and Qatar.
Abu Dhabi has
said it wants to amend the pact.
The National
Bank of Abu Dhabi, which Bloomberg said had received the Saudi memo,
declined to comment.
The Dolphin gas
project aims to pump an initial two billion cubic feet a day of
natural gas from Qatar's giant North Field in the Gulf to buyers in
the UAE.
Dolphin has
already started to supply natural gas to Fujairah and Ras al-Khaimah
emirates through a pipeline in the UAE.
