DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, has signed a Memorandum of Understanding (MoU) with Oriental Copper, a leading manufacturer of high conductivity copper products in Thailand, in order to manufacture high-quality copper products in the UAE.
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.
This partnership aims to manufacture high-quality copper products including ETP and oxygen-free copper bus bars, profiles, strips, sheets or tapes, alloys, and magnet wires through a production unit with an installed capacity of 30,000 MT of copper processing per annum.
“We are pleased to sign this MoU with Oriental Copper, one of the leading manufacturers of high conductivity copper bus bars and other copper fabricated products in the world. This MoU is a vital step in meeting the region’s need for downstream copper products, which is now primarily met by imports. 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.”
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.
Ms. Tuang-Hong Thiptarangoon, President of Oriental Copper, said that, “We are excited to work with DUBAL Holding for the manufacture of copper products in the UAE. We firmly believe that our dedication to quality and service will contribute to boosting UAE’s economy and local employment opportunities.”
“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. We seek to bring more innovation to the market and employ the greatest copper material to increase efficiency, conserve energy, and lower costs, which will positively influence the economy’s long-term growth,” Ms. Thiptarangoon added.