Mark Cables Power Solutions has signed an initial agreement for potential metal supply with EGA.
Mark Cables Power Solutions is a joint venture of Platinum Group and manufacturer of power cables and aluminium rods Mark Cables.
The agreement marks the progression of a project to construct an aluminium rod manufacturing plant in Abu Dhabi.
The new plant is expected to have a production capacity of 36,000 tonnes per year of various grades of aluminium rods, which will be supplied to existing Mark Cables factories in Dubai and Angola as well as to third party customers in the UAE, Africa and Europe.
Leoncie Mukundente, Managing Director of Mark Cables FZE, stated: “Regional and global demand for power cables is growing due to the expansion of electricity grids to support the development of renewable power generation and to enable further electrification in developing countries.
“Increasingly, aluminium is being substituted for copper in power cables, to lower costs while delivering the performance required.
"This new plant will help meet this growing global demand, while creating further value in the UAE from our nation’s aluminium production.”
The plant will be located in the ‘Aluminium Valley’ section of KEZAD (Khalifa Economic Zones Abu Dhabi), which is adjacent to EGA's Al Taweelah smelter.
The non-binding agreement with EGA envisions the supply of 35,000 tonnes per year of aluminium to the proposed new plant.
Adel Abubakar, Chief Marketing Officer of Emirates Global Aluminium, added: “We look forward to the construction of Mark Cables Power Solutions’ new plant, and to a new customer for our metal in the UAE.
“EGA’s aluminium supply has spurred the development of the downstream aluminium sector in the UAE, creating jobs and economic opportunity across the country in line with Make it in the Emirates.”
