Doha, Qatar : – Aamal Company Q.P.S.C. (“Aamal”), one of the GCC’s fastest growing diversified companies, is pleased to announce that Doha Cables – a fully-owned subsidiary of Senyar Industries Qatar Holding W.L.L., one of Qatar’s leading industrial groups in which Aamal is a 50% shareholder – has been awarded a two-year contract by Qatar General Electricity & Water Corporation (“Kahramaa”) to supply LV, 11 KV and pilot power cables.

The contract is for a call-off agreement under which Doha Cables will provide materials to Kahramaa within two days of an order being placed.  The contract tender process commenced in August 2017 and Doha Cables was informed last month that its bid had been successful. Winning this contract is expected to positively impact Doha Cables’ revenues for the first quarter of 2018, during which period the first order has been placed.

H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company Q.P.S.C., commented:

“We are very pleased that Doha Cables has been awarded such a major contract. Doha Cables is proud to be Qatar’s first cable manufacturing facility and supplying cables to as prestigious an organisation as Kahramaa signifies another significant milestone in its development, as well as in the continued growth of Senyar Industries Qatar Holding.  The industrial sector is a key focus for Aamal and winning mandates such as this will be of benefit to all our stakeholders.”

H.E. Sheikh Mohamed Bin Faisal Al Thani, Vice-Chairman and Managing Director of Aamal, commented:

“We are delighted that Kahramaa has selected Doha Cables and will work hard to ensure that it is a combination that benefits the local market and economy.  This is a contract which is very much in line with Aamal’s overall strategy and is further evidence of our market-leading position in the industrial manufacturing sector.”

-Ends-

About Aamal Company Q.P.S.C.

Aamal is one of the GCC’s fastest growing diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 18 February 2018, the Company had a market capitalization of QAR 5.5 billion (US$ 1.5 billion).

Focused on self-financed and profitable growth, Aamal’s operations are widely diversified and currently comprise 24 active business units with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar’s wider economic growth and development. Over the ten years to end-2016, the Company has delivered a compound annual growth rate in trading net profit (ie. before fair value gains on investment properties) slightly below 19% a year, with minimal financial leverage.

For further information on Aamal Company, please refer to the corporate website: http://www.aamal.com.qa 

About Senyar Industries Qatar Holding W.L.L.

Senyar Industries Qatar Holding is one of Qatar’s leading industrial groups, established in 2007 as partnership between Aamal Company Q.P.S.C. and El Sewedy Electric, the Middle East’s leading integrated cables and electrical products manufacturer. Senyar Industries Qatar Holding has 2 main interests: Doha Cables and El Sewedy Cables Qatar.  Aamal Company holds a 50% stake in Senyar Industries Qatar Holding.

About Doha Cables

Doha Cables is the first cable manufacturing factory in Qatar and started its operations in 2010.  Its state-of-the-art manufacturing facility has a production capacity of 52,000 tonnes of cables per annum and manufactures all types of power cables; low voltage, medium voltage and high voltage up to 220k alongside more specialised cables, such as heat resistant flexible cables, fire resistant, flame retardant, lead sheathed and control cables. The factory premises are equipped with some of the most technologically advanced cable manufacturing machines which cut delivery time to the various infrastructure projects in Qatar, allowing greater efficiency and cost effectiveness. Doha Cables is committed to maintaining the highest safety standards, whilst producing superior quality products in an environmentally sound and responsible manner. Doha Cables has obtained Civil Defence certification for Fire Resistant Cables, LPCB certification, BASEC Product certification requirements in addition to 132kV approval by KAHRAMAA after conducting the loop type test at KEMA laboratories in the Netherlands. 

© Press Release 2018