LONDON, 27th July, 2022 (WAM) — National visions around sustainable development support long-term cable industry growth in MENA despite global uncertainty, according to Mohammad Almutawa, CEO of Ducab Group.
The sole MENA representative at the 2022 CRU Wire & Cable Conference leadership panel in London, Almutawa, noted the world continues to rely on wire and cable products to facilitate digital transformation and energy transition.
Almutawa stated that GCC countries, in particular, have set ambitious targets to switch to clean energy as part of their national visions. For example, Dubai in the UAE plans to have 25% of its electricity produced through solar by 2030, while Oman has a 30% renewable energy production target by the same period. By 2030, GCC countries are on track to save the equivalent of 354 million barrels of oil by switching to renewables, Almutawa added.
This shift will result in accelerated demand for cable and wire solutions. “There is currently more than $3.9 trillion worth of projects either planned or yet to be awarded in the MENA region,” Almutawa observed. He added that a growing population, national strategies around sustainability and energy transition, and energy independence are factors behind the increase in investments in clean energy projects across the region.
As one of the largest manufacturing businesses in the UAE and a strong supporter of the “Made in the Emirates” brand, Ducab has supplied cable solutions to flagship projects in the UAE such as the Burj Khalifa, Dubai Metro, Emirates Palace, and Yas Marina Circuit. The renewed global focus on renewable energy saw Ducab launch a line of cables catering specifically to the solar energy sector. The SolarBICC range was selected for two of the region’s largest solar power generation projects, including the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai and Shams 1 in Abu Dhabi.
Ducab continuously aims to expand business internationally. Ducab products are today exported to 45 markets across the Gulf, Asia, Oceania, Africa, Europe, and the Americas. Exports cover approximately 60% of overall production, a proportion that has expanded significantly in the last few years.
CRU’s Wire & Cable 2022 Conference is the premier meeting place for the world’s wire and cable supply chain. This year’s conference will explore both energy and communications network developments across the entire value chain for insulated wire and cable products produced from copper, aluminium, optical fibre, and associated materials.