EIIC reveals Dh1.8bn plan for expansion - Emirates24|7

EIIC reveals Dh1.8bn plan for expansion

Emirates International Investment Company (EIIC) has announced ambitious plans to build six hi-tech factories in the UAE, Saudi Arabia, Algeria, Romania and Vietnam at an estimated cost of Dh1.8 billion.

EIIC's decision to construct these factories comes at a time when the region is experiencing a great construction boom.

To satisfy market demand, EIIC is estimating production levels of 40,000 tonnes per year of copper and 7,000 tonnes per year of aluminium low, medium and high voltage cables, all of which will adhere to best international standards.

EIIC has already begun construction on two UAE-based factories in Mussafah, Abu Dhabi. The first manufacturing facility will produce aluminium rods of 100,000 tonnes per year, and the second manufacturing facility producing magnetic wires of an estimated 25,000 tonnes a year.

Omar Younis, General Manager of EIIC-owned Electrocab which is managing the factories, stated that the company plans to boost production of copper cables in its Algeria factory to 60,000 tonnes/year . He confirmed that the KSA, Romania and Vietnam factory blueprints are completed and the sites have already been selected.

"We have secured a team of specialised cable professionals who will ensure top-notch quality management for all our products," he said.