DUBAL Holding has signed an MoU with Oriental Copper Co., Ltd., a Thai manufacturer of high conductivity copper products, to manufacture high-quality copper products in the UAE
DUBAL is the investment arm of the Dubai Government in the commodities, mining, power, energy, and industrial sectors. The partnership aims to manufacture high-quality copper products including ETP and oxygen-free copper bus bars, profiles, strips, sheets/tapes, alloys, and magnet wires through a production unit with an installed capacity of 30,000 MT of copper processing per annum.
Under this MoU, DUBAL Holding will provide assistance with local resources, in addition to being a co-investor, while Oriental Copper will contribute its extensive technical, operational, and market expertise. This joint venture will further boost the regional economy and provide employment opportunities for around 700 individuals at a local level. As part of the MoU, both parties will invest a capital expenditure (Capex) of about US$41mn. The production unit will utilise innovative techniques including hot extrusion methods and conform processes.
Tuang-Hong Thiptarangoon, president of Oriental Copper, said, “We are excited to work with DUBAL Holding for the manufacture of copper products in the UAE. At Oriental Copper, we constantly strive to produce copper of the highest quality for use in the electronics and non-electrical industries as well as in the generation, transmission, and distribution of electrical power.”
Through this partnership, DUBAL Holding aims to produce high-quality copper goods locally to effectively meet the UAE's increasing demand for downstream copper products. This partnership aligns with the MENA region’s goal of shifting away from the heavy reliance on copper imports and meeting the growing demand for downstream copper products.
Ahmad Hamad Bin Fahad, CEO of DUBAL Holding, said, “We are confident that this joint venture will increase local employment opportunities and boost the regional economy. This further falls in line with our sustainability objectives, as Oriental Copper products foster green energy and lower carbon footprints in the UAE.”
