Sheikh Faisal bin Qassim Al Thani, Chairman of Aamal Company, signing the agreement of the contract in Doha, yesterday.
Aamal Cables for Trading and Contracting, a subsidiary of Aamal Group (Aamal) yesterday announced that it has won a three-year contract worth QR694m from Qatar General Electricity & Water Corporation (Kahramaa).
Under this contract, Aamal Cables will supply 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.
Sheikh Faisal bin Qassim Al Thani, Chairman of Aamal Company, said:“We are very pleased that Aamal Cables has been awarded such a major contract, despite the challenges of COVID-19 on the local and global landscape. 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. Aamal’s strong relationship with Kahramaa is based on trust and commitment and we are proud to be playing our part in the ongoing development of Qatar’s advanced infrastructure and industrialisation.”
Sheikh Mohamed bin Faisal Al Thani, CEO and Managing Director of Aamal, added: “As we enter the final third of the year, this contract with Kahramaa provides a positive sign of recovery from the challenges of the pandemic and is an indication of the increased activity that we expect to see within Aamal’s Industrial Manufacturing segment. I would like to thank Kahramaa for their trust in the excellence of local products and for their continued support of Qatar’s private sector. 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.”
Notably, Kahramaa yesterday signed two contracts for supplying electric cables , which include the Aamal Cables, and another contract with Qatar International Electric Cables Company on demand system when needed for a period of three years with the total value exceeding QR1.015bn.
The agreements were signed by Kahramaa Chairman Eng Issa bin Hilal Al Kuwari, Sheikh Faisal bin Qasim Al Thani, Chairman of the Board of Directors of Aamal Cables Trading and Contracting Company, and Patrick Seo, Executive Director of Qatar International Electric Cables Company, in the presence of other officials at a signing ceremony held via live broadcast.
