Ducab, the cable-making joint venture between Abu Dhabi and Dubai, is reviewing its plans to make cables in Saudi Arabia because of concerns about regulatory roadblocks.
The company, which makes copper cables used in oil operations and power grids, hopes to ride an expected Saudi construction boom spurred by billions of dollars of government housing grants. But concerns about the kingdom's rules for business, among other issues, have kept Ducab's board from approving any proposals to set up factories there.
"The feasibility studies have been rejected by the board due to certain issues," said Ahmed al Shaikh, the chairman of Ducab. "There are certain rules and regulations we have been trying to overcome, and see what can be done about these regulations. Have we taken a firm decision? Not yet."
Citing confidentiality agreements, Mr al Shaikh declined to say what partners or sites the board had considered in Saudi Arabia.
Setting up a factory in the kingdom would be a good strategic move for Ducab, allowing it to avoid the cost of shipping large cables long distances and positioning the company to make inroads into the Saudi oil and gas sector. Ducab's oil, gas and petrochemical-related sales grew by 143 per cent last year, in part due to a US$30 million (Dh110m) contract to supply cables for an oil pipeline running from Abu Dhabi to the Fujairah coast.
Ducab also has a key advantage as a GCC company: it does not have to partner with a Saudi company to operate in the kingdom. That means it can team up with a multinational company with specialised technology or expertise, a scenario at which Andrew Shaw, Ducab's managing director, hinted.
"You'll get a producer from the East and a producer from the West and they'll have different strengths," Mr Shaw said.
The company has also looked at making cables in North Africa and in India, where it obtains much of its copper and sells the finished product.
"We are looking into different acquisitions or greenfields in different spots worldwide," said Mr al Shaikh at a briefing on Ducab's annual financial results. "In the Arab region, some have been put on hold due to the political situation."
Ducab would not wish to enter into any partnerships as a minor, he added. "We are not investors. We are a cable producer. We know our work. So we can do our work when we are a major shareholder rather than a minor shareholder," he said.
The company said the rise in the price of copper, a key material in cables, had not hurt its profitability, since it could pass the increase in costs on to its customers. Yesterday copper was trading at $9,545 a tonne on the London Metal Exchange, more than three times the levels in early 2009.
"Our aim is to grow the business by 15 per cent compared with 2010, despite the economic situation globally and the copper prices," said Mr al Shaikh.
Ducab expects this year to complete a factory to make high-voltage cables, part of a Dh500m joint venture between Ducab and the state utilities Dubai Electricity and Water Authority and Abu Dhabi Water and Electricity Authority.
That factory is expected to begin operating as Abu Dhabi pushes ahead with major infrastructure projects, including a $20 billion nuclear energy programme in the Western Region and a nationwide railway.
ayee@thenational.ae
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A
The bio
Favourite vegetable: Broccoli
Favourite food: Seafood
Favourite thing to cook: Duck l'orange
Favourite book: Give and Take by Adam Grant, one of his professors at University of Pennsylvania
Favourite place to travel: Home in Kuwait.
Favourite place in the UAE: Al Qudra lakes
Confirmed%20bouts%20(more%20to%20be%20added)
%3Cp%3ECory%20Sandhagen%20v%20Umar%20Nurmagomedov%0D%3Cbr%3ENick%20Diaz%20v%20Vicente%20Luque%0D%3Cbr%3EMichael%20Chiesa%20v%20Tony%20Ferguson%0D%3Cbr%3EDeiveson%20Figueiredo%20v%20Marlon%20Vera%0D%3Cbr%3EMackenzie%20Dern%20v%20Loopy%20Godinez%0D%3Cbr%3E%3C%2Fp%3E%0A%3Cp%3ETickets%20for%20the%20August%203%20Fight%20Night%2C%20held%20in%20partnership%20with%20the%20Department%20of%20Culture%20and%20Tourism%20Abu%20Dhabi%2C%20went%20on%20sale%20earlier%20this%20month%2C%20through%20www.etihadarena.ae%20and%20www.ticketmaster.ae.%0D%3Cbr%3E%3C%2Fp%3E%0A
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.
Users can also invite other contacts to download ToTok to allow them to make contact through the app.
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
COMPANY%20PROFILE
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HAJJAN
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Company%20Profile
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COMPANY%20PROFILE%20
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Challenge Cup result:
1. UAE 3 faults
2. Ireland 9 faults
3. Brazil 11 faults
4. Spain 15 faults
5. Great Britain 17 faults
6. New Zealand 20 faults
7. Italy 26 faults
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
First Person
Richard Flanagan
Chatto & Windus
COMPANY%20PROFILE
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West Asia Premiership
Dubai Hurricanes 58-10 Dubai Knights Eagles
Dubai Tigers 5-39 Bahrain
Jebel Ali Dragons 16-56 Abu Dhabi Harlequins