UAE cable maker Ducab expects more growth opportunities in India following the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the Emirates and Asia’s third-largest economy earlier this year and the strengthening of ties between the two countries.
The company plans to supply cable and other metal products to the transport sector as well as mega infrastructure projects that are being built in India, chief executive Mohammed Al Mutawa told The National.
“We have been limited with the revenue from the Indian subcontinent because of some previous trade barriers," he said.
"Right now, with the agreement that we had, these barriers have been reduced considerably and the opportunity for business has improved dramatically.”
The UAE and India signed the CEPA pact in February, with the pact expected to boost non-oil trade between the two countries to $100 billion in five years from $60bn currently, opening additional avenues of investment.
As part of the agreement, 80 per cent of tariffs on Indian and UAE goods have been removed, with plans to lift all tariffs within 10 years to boost trade between the countries, said Dr Thani Al Zeyoudi, the UAE's Minister of State for Foreign Trade.
The deal is also expected to add 1.7 per cent, or $8.9bn, to the UAE's gross domestic product and boost exports by 1.5 per cent, or $7.6bn, by 2030.
“Our first shipment to the Indian market happened in 1988, we supplied almost 100 kilometres of low voltage cable to the Nhava Sheva project [in Mumbai]. From these humble starts, Ducab has access to 100 partners that we deal with in India … right now we have multiple projects that we are working on," Mr Al Mutawa said.
India, the world’s second most populous country, is spending billions of dollars on new road and rail projects across the country to boost growth. The country’s economy is expected to grow 7.4 per cent this year, the International Monetary Fund has said.
Ducab, which is jointly owned by Abu Dhabi holding company ADQ and the Investment Corporation of Dubai, recorded Dh5.5bn ($1.49bn) in revenue last year and aims to exceed that figure by about 10 per cent this year amid new opportunities to sell its products in different markets.
“There are new opportunities within the existing markets but we are more focused on opportunities in new markets that would expand our reach,” Mr Al Mutawa said.
Ducab is looking to boost its presence in Africa and Europe amid higher demand for its cable and metal products, he said.
The company currently exports 60 per cent of its products to different markets, with the UAE accounting for 40 per cent of its sales.
The UK, China, Australia, Egypt and Iraq are its biggest export markets and the company plans to grow in markets including the US and India, Mr Al Mutawa said.
Ducab is also looking for opportunities to boost exports to Saudi Arabia, the Arab world’s largest economy.
“We do have a big market in the UAE that requires our biggest attention, but we are expanding in Saudi Arabia, we have grown our sales over the past few years quite considerably ... going forward Saudi Arabia is going to be an important part of our strategy," he said.
Saudi Arabia is investing heavily in several mega developments, such as the $500bn Neom project. It is also planning to build more internal railway networks to jump-start its investment in the infrastructure sector.
For Ducab, another area of focus is the renewable energy sector. The company plans to supply cables to new projects within the sector amid the increased global attention on boosting clean energy capacity to cut emissions.
“We have been the supplier of choice for all the mega solar projects within the UAE," Mr Al Mutawa said.
That includes the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, the largest single-site solar park in the world. It aims to have a total capacity of 5,000 megawatts by 2030.
Ducab has also supplied Al Dhafra project in Abu Dhabi, which will be the world's largest solar plant when completed with a capacity of two gigawatts.
"The Sudair [solar plant] in Saudi Arabia is another big project [for us]," he said.
The company also supplied cables to wind farms in Australia and Europe, and is looking at expanding its reach to a “wider range in the renewable power segment”, he said.
The expected global economic slowdown amid higher inflation and the Ukraine war may “put pressure” on Ducab, but will not affect its business and growth plans, Mr Al Mutawa said.
“Over the past 43 years, since the company’s inception, Ducab has only proven resilience to any change in the market and is forward-looking both tactically and strategically to position the UAE and the 'Made in UAE' product in global markets," he said.
The company has no plans to raise money through bonds or sukuk issuance, but “with an ambitious growth and expansion plan, everything is in the mix”, he said.
The biog
DOB: 25/12/92
Marital status: Single
Education: Post-graduate diploma in UAE Diplomacy and External Affairs at the Emirates Diplomatic Academy in Abu Dhabi
Hobbies: I love fencing, I used to fence at the MK Fencing Academy but I want to start again. I also love reading and writing
Lifelong goal: My dream is to be a state minister
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Where to buy art books in the UAE
There are a number of speciality art bookshops in the UAE.
In Dubai, The Lighthouse at Dubai Design District has a wonderfully curated selection of art and design books. Alserkal Avenue runs a pop-up shop at their A4 space, and host the art-book fair Fully Booked during Art Week in March. The Third Line, also in Alserkal Avenue, has a strong book-publishing arm and sells copies at its gallery. Kinokuniya, at Dubai Mall, has some good offerings within its broad selection, and you never know what you will find at the House of Prose in Jumeirah. Finally, all of Gulf Photo Plus’s photo books are available for sale at their show.
In Abu Dhabi, Louvre Abu Dhabi has a beautiful selection of catalogues and art books, and Magrudy’s – across the Emirates, but particularly at their NYU Abu Dhabi site – has a great selection in art, fiction and cultural theory.
In Sharjah, the Sharjah Art Museum sells catalogues and art books at its museum shop, and the Sharjah Art Foundation has a bookshop that offers reads on art, theory and cultural history.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
More from Neighbourhood Watch:
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Scoreline
Bournemouth 2
Wilson 70', Ibe 74'
Arsenal 1
Bellerin 52'
Afghanistan Premier League - at a glance
Venue: Sharjah Cricket Stadium
Fixtures:
Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final
Table:
1. Balkh Legends 6 5 1 10
2. Paktia Panthers 6 4 2 8
3. Kabul Zwanan 6 3 3 6
4. Nagarhar Leopards 7 2 5 4
5. Kandahar Knights 5 1 4 2
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
More on Quran memorisation:
More coverage from the Future Forum
FIGHT CARD
Sara El Bakkali v Anisha Kadka (Lightweight, female)
Mohammed Adil Al Debi v Moaz Abdelgawad (Bantamweight)
Amir Boureslan v Mahmoud Zanouny (Welterweight)
Abrorbek Madaminbekov v Mohammed Al Katheeri (Featherweight)
Ibrahem Bilal v Emad Arafa (Super featherweight)
Ahmed Abdolaziz v Imad Essassi (Middleweight)
Milena Martinou v Ilham Bourakkadi (Bantamweight, female)
Noureddine El Agouti v Mohamed Mardi (Welterweight)
Nabil Ouach v Ymad Atrous (Middleweight)
Nouredin Samir v Zainalabid Dadachev (Lightweight)
Marlon Ribeiro v Mehdi Oubahammou (Welterweight)
Brad Stanton v Mohamed El Boukhari (Super welterweight
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
FIXTURES
Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
The top two teams qualify for the World Cup
Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.
Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff
Recent winners
2002 Giselle Khoury (Colombia)
2004 Nathalie Nasralla (France)
2005 Catherine Abboud (Oceania)
2007 Grace Bijjani (Mexico)
2008 Carina El-Keddissi (Brazil)
2009 Sara Mansour (Brazil)
2010 Daniella Rahme (Australia)
2011 Maria Farah (Canada)
2012 Cynthia Moukarzel (Kuwait)
2013 Layla Yarak (Australia)
2014 Lia Saad (UAE)
2015 Cynthia Farah (Australia)
2016 Yosmely Massaad (Venezuela)
2017 Dima Safi (Ivory Coast)
2018 Rachel Younan (Australia)
More from Aya Iskandarani
Killing of Qassem Suleimani
MATCH INFO
Group B
Bayern Munich v Tottenham, midnight (Thursday)
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Killing of Qassem Suleimani
Captain Marvel
Director: Anna Boden, Ryan Fleck
Starring: Brie Larson, Samuel L Jackson, Jude Law, Ben Mendelsohn
4/5 stars
STAY%2C%20DAUGHTER
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
The Outsider
Stephen King, Penguin