* Contracts worth over QR1bn signed with Aamal Cables for Trading and Contracting and Qatar International Cables Company
The Qatar General Electricity & Water Corporation (Kahramaa) on Sunday signed two contracts for supplying electric cables with Aamal Cables for Trading and Contracting and Qatar International Cables Company (QICC).
As per the contracts that are worth more than QR1bn, cables will be distributed to Kahramaa for three years as per the demand from the corporation, an official Kahramaa press statement said.
The agreement was signed by Kahramaa president Essa bin Hilal al-Kuwari, Aamal Company chairman HE Sheikh Faisal bin Qassim al-Thani and QICC's Patrick Seo, in a virtual meet that was held in the presence of a number of directors from various departments and officials of the two companies.
The two contracts come as part of Kahramaa’s efforts to develop the country’s infrastructure of the electricity sector which is witnessing steady growth as a result of the increasing demand for electricity and the comprehensive construction boom. The signing is also an affirmation of the ability of local companies to keep pace with development plans in various sectors in a way that supports the competitiveness of the Qatari economy.
Sheikh Mohamed bin Faisal al-Thani and Patrick Seo
The value of the contract signed with Aamal Company is about QR695mn while the value of the contract with QICC is more than QR320mn with the total value exceeding QR1.015bn. As per the contracts, low- and medium-voltage cables will be supplied to Kahramaa.
HE Sheikh Faisal said, "We are very pleased that Aamal Cables has been awarded such a major contract, despite the challenges of Covid-19 on the local and global landscape. This is an excellent example both of Qatar's resilient economy and of Aamal's resilient business model. Aamal Cables is an entirely local Qatari company and we are honoured to have been chosen to supply locally produced cables to such a leading organisation as Kahramaa.
"Aamal's strong relationship with Kahramaa is based on trust and commitment and we are proud to be playing our part in the ongoing development of Qatar's advanced infrastructure and industrialisation."
CEO and managing director of Aamal Sheikh Mohamed bin Faisal al-Thani added, "As we enter the final third of the year, this contract with Kahramaa provides a positive sign of recovery from the challenges of the pandemic and is an indication of the increased activity that we expect to see within Aamal's industrial manufacturing segment. I would like to thank Kahramaa for their trust in the excellence of local products and for their continued support of Qatar's private sector.
"Aamal's strong foundations and diversified business model allows it to benefit from opportunities across Qatar's economic spectrum. It is recognised by many leading Qatari and international companies as being an ideal partner and we are proud that Kahramaa has chosen to place their trust in us."
Essa bin Hilal al-Kuwari.
Under the two contracts, the supplying company stores the materials in its warehouses and supplies them directly to the establishment within two days of the issuance of the supply order. Kahramaa had signed several contracts with different companies for cable supply.
Kahramaa, according to the press statement, is working to diversify its sources locally and internationally for adopting the principle of economic innovation. It also encourages the local market by giving priority to Qatari companies according to the rules of preference established for national products in order to support the private sector. Kahramaa also provides technical support for the companies with the purpose of giving them qualification to be included in the supplier list.
Kahramaa has so far signed contracts with local factories to supply cables. The local companies have been given priority in infrastructure projects including electricity and water projects being implemented in urban and industrial areas.
In a related statement, Aamal Cables for Trading and Contracting said it was pleased to announce that the company had been awarded a three-year contract by Kahramaa to supply medium-voltage 11KV and pilot power cables.
Under this contract, Aamal Cables for Trading and Contracting will provide 2,960km of 11KV medium-voltage cables and 3,200km of pilot cables to Kahramaa to be used across its entire distribution network. The contract is expected to positively impact Aamal Cables’ revenues for the fourth quarter of 2020, during which period the first orders are scheduled to be delivered, the company said.
Aamal Company's industrial manufacturing segment had seen 21% year-on-year expansion in revenues to QR96.6mn in the first six months of this year.
