Spot gold was slightly down at $2,335.13 per gram on Monday
uae3 hours ago
This project is part of a plan initiated by EIIC to fulfil the growing demand for the many types of electrical power cables and wires used both locally and globally.
The new factory will produce three types of magnet wire, round wires insulated with varnish and flat wires insulated with either varnish or paper, in sizes ranging from 0.5mm up to 4.5mm. At the request of customers, this range may include round and flat aluminium wires.
The new factory will be built on a 25,000 square metres area and is estimated to produce 25,000 tonnes of copper per annum during phase one, and the total production will be increased in subsequent phases.
Omar Younis, General Manager of Electrocab, said, "The magnet wire factory will be the first-of-its-kind in Abu Dhabi and will satisfy the market requirements."
"We will commence the initial construction phase of the factory before the end of the year and expect it to be finalised by end of 2008. As for go-live date, we hope to complete all the phases by end of 2009," he added.
Younis commented that the feasibility study see a huge demand for winding wires both locally and globally, with expectations for growth.
He said EIIC has signed contracts with international companies to supply them products of the new factory.
Spot gold was slightly down at $2,335.13 per gram on Monday
uae3 hours ago
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