Aamal JV secures $267mln EPC contract for Qatar power projects

PHOTO

Aamal Company, one of the region’s leading diversified companies, has announced that its joint venture unit - Elsewedy Cables Qatar - has secured an engineering, procurement, construction (EPC) services contract worth more than QR1 billion ($267 million) from Qatar General Electricity & Water Corporation (Kahramaa) for its key power projects.

Elsewedy Cables Qatar is a subsidiary of Senyar Industries Qatar Holding, one of the country's leading industrial groups, in which Aamal is a 50% shareholder.

Under this three-year contract, Elsewedy Cables Qatar will be providing EPC services, including the supply and installation of 132kV power cables for strategic projects, said the company in a statement.

Sheikh Mohamed bin Faisal Al Thani, Vice Chairman and Managing Director, said: "We are delighted to be awarded such a significant contract by Kahramaa, which demonstrates our strong capabilities to deliver high-quality products that support the growth and development of Qatar."

Aamal’s operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property and managed services, thereby offering investors a high quality and balanced exposure to Qatar’s wider economic growth and development.

"At Aamal, we are committed to bringing the latest know-how and expertise to remain at the forefront of Qatar's growth and development, and to being the partner of choice for leading projects and institutions," he noted.

Aamal CEO Rashid bin Ali Al Mansouri said this contract award reflects Qatar’s attractive investment landscape, encouraging the private sector to seek joint ventures and partnerships that add value and contribute to the country’s economic growth and development.

This contract win also emphasises Elsewedy Cables’ position as a leading supplier, capable of meeting the demands of large-scale local projects.

"We take pride in our joint venture, Elsewedy Cables Qatar, for sustaining market leadership over the past 15 years through continuous investment and expansion of its product portfolio. Aamal remains well-positioned to seize various opportunities across numerous economic sectors, delivering value to all its stakeholders," noted Al Mansouri.

Ahmed Fathy Elsewedy, Executive Vice President of Senyar Industries Qatar Holding, said: "Since our establishment in Qatar, we have built a strong relationship with Kahramaa based on trust and respect, successfully delivering projects on time and providing unparalleled products."

"We remain committed to being the partner of choice, supporting Qatar’s growth and its National Vision 2030. Our premium product range, combined with our expertise and dedicated team, will continue to drive our success and support Qatar’s ambitious goals," he added.-TradeArabia News Service