Ducab Plans To Set Up Industrial Unit In Saudi Arabia
Tuesday, Aug 18, 2009
Ducab, a United Arab Emirates-based power cables manufacturer equally owned by the governments of Dubai and Abu Dhabi, plans to set up an industrial unit in Saudi Arabia after seeing the investment opportunities available in the country, Al Riyadh daily reports Tuesday.The firm, which produces over 110,000 metal tones of cables, also plans to export 20%-30% of its output, its chairman Ahmed bin Hassan Al Shaikh said, according to the paper.
Ducab already plans to set up a unit in Qatar, with a cost of 300 million UAE dirhams ($81.7 million).
Source: Dow Jones
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