NEXANS : Nexans' QICC Joint Venture in Qatar Starts Commercial Production at Its New Cable Plant
10/05/2010 | 05:05am
Regulatory News:
Nexans (Paris:NEX), the worldwide leader in the cable industry, has
completed a major step in the development of its joint venture in Qatar
– the Qatar International Cable Company (QICC) – with the start-up of
commercial production at the new cable plant in Mesaieed Industrial
City, around 40 km from the capital, Doha. This state-of-the-art plant
employs more than 100 people and is expected to generate a volume of
business of over $100 million by 2011.
The new QICC plant is focused on the manufacture of low, medium and low
end high voltage power cables for energy infrastructure and building
projects, as well as special cables for the oil and gas industry. It has
a current total floor space of 19,000 m2 on an overall plot
of 70,000 m2, and a strategic location close to a harbour
that is being developed as the largest in the Middle-East.
?The opening of this flagship plant in Qatar is a key strategic step
that enables Nexans to address the specific needs of the buoyant and
growing market in the Gulf Coast Countries. It adds high-quality,
high-volume local manufacturing capability to the effective engineering,
sales and customer support services already established in this area,?
said Frédéric Vincent, Chairman and CEO of Nexans.
QICC background
QICC was established in June 2008 as a joint venture company between
Nexans (30 percent), Special Projects Company and Al Neama Industrial
Co. QICC, which is under the operational management of Nexans, has its
head quarters in Mesaieed. It is targeting not only the local Qatar
market, but also markets in the Gulf Cooperation Council (GCC) and
Yemen. The new plant is among the largest in the MENA (Middle-East North
Africa) region and its large plot size allows for considerable expansion
in production capacity as demand increases.
Nexans projects in Qatar
Nexans is an established supplier of medium and high voltage cables for
important utilities in Qatar, Dubai and Abu Dhabi, and has been involved
in major oil and gas projects with local and international operators.
Recently, Nexans has supplied cables for several projects in Qatar such
as Shell GTL pearl, Ras Laffan port, Qatar Gas Berth 6, Laffan Refinery
& Kahramaa expansion multiple phases.
About Nexans
With energy as the basis of its development, Nexans, the worldwide
leader in the cable industry, offers an extensive range of cables and
cabling systems. The Group is a global player in the infrastructure,
industry, building and Local Area Network markets. Nexans addresses a
series of market segments: from energy, transport and telecom networks
to shipbuilding, oil and gas, nuclear power, automotives, electronics,
aeronautics, material handling and automation.
Nexans is a responsible industrial company that regards sustainable
development as integral to its global and operational strategy.
Continuous innovation in products, solutions and services, employee
development and engagement, and the introduction of safe industrial
processes with limited environmental impact are among the key
initiatives that place Nexans at the core of a sustainable future.
With an industrial presence in 39 countries and commercial activities
worldwide, Nexans employs 22,700 people and had sales in 2009 of 5
billion euros. Nexans is listed on NYSE Euronext Paris, compartment A.
For more information, please consult www.nexans.com
Nexans
Press
Pascale Strubel
Tel. : +33
(0)1 73 23 85 28
Pascale.strubel@nexans.com
or
Investor
Relations
Michel Gédéon
Tel.: +33 (0)1 73 23 85 31
Michel.gedeon@nexans.com
© Business Wire 2010
