Ducab, DEWA and ADWEA in Landmark Joint Venture NEW FACTORY TO MEET RISING DEMAND FOR HIGH VOLTAGE CABLE SYSTEMS IN THE REGION

Ducab, DEWA and ADWEA to manufacture 400,000 Volt cables at new facility in Jebel Ali

Dubai, March 30TH 2009: In a landmark agreement, the two major UAE utilities, ADWEA and DEWA, have joined forces with leading cable company Ducab in a new joint venture to manufacture high voltage cable systems. The new company, Ducab – HV, will operate from a 22,000 square meter manufacturing factory that will be built next to Ducab’s facility in Jebel Ali.

The joint venture was announced at a press conference on the 30th of March at WETEX 2009, attended by top officials from all the 3 companies. Work on the new facility being built in Jebel Ali has already commenced and scheduled to be operational in late 2010.

Commenting on the establishment of Ducab - HV, Mr. Saeed Al Darmaki, Deputy Managing Director of TRANSCO said:

“By replacing the need for imported cables, the new state of the art plant will play a key role in supporting the nation’s economy and is a milestone for the UAE industrial sector.”

He also added that this partnership supports ADWEA’s strategic plan to develop the local industrial sector, in line with the Abu Dhabi Government Strategic Plan to diversify the local economy resources and create job opportunities for Emiratis.

On his part H.E Saeed Mohd Al Tayer MD & CEO of Dubai Electricity & Water Authority commented on this partnership saying:

“This project is a reflection of the UAE’s vision to grow the industrial sector and national infrastructure, Ducab HV is the first national partnership between DEWA, ADWEA and Ducab. The joint venture, to manufacture high voltage cables, will contribute greatly to our national economy, by providing one of the key elements of infrastructure in the region.”

Ducab’s Chairman Mr. Ahmed Al Sheikh, said:

“As the population in the region continues to grow so too does the demand for electricity and power. We believe that the only way to meet this growing demand is with a strategically located facility that uses state-of-the-art equipment. Ducab - HV will be able to supply the region with 30,000 tonnes per year of high voltage cable in the range 66kV to 400kV. We see this expansion in the Ducab portfolio beneficial, not only for Ducab and its new partners but for UAE society as a whole. This venture will create new, high-tech job opportunities for UAE nationals.”

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