Aamal Cables for Trading and Contracting, a subsidiary of Aamal Company, has been awarded a three-year contract worth QR694mn by Qatar General Electricity and Water Corporation (Kahramaa) to supply medium voltage 11KV and pilot power cables.
Under this contract, Aamal Cables 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.
"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," said Sheikh Faisal bin Qassim al-Thani, Aamal Company chairman.
Sheikh Mohamed bin Faisal al-Thani, chief executive and managing director of Aamal, said the agreement provides a positive sign of recovery from the challenges of the pandemic and is an indication of the increased activity that it expects to see within Aamal’s industrial manufacturing segment.
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.
"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," he said.
from Gulf Times https://ift.tt/3h3ghRa
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