Al Suwaidi readies to open Yanbu plant
Egyptian cabling giant focuses on export market
Egyptian cabling giant Al Suwaidi has announced that it will shortly open its US $150 million Yanbu plant, on the Kingdom's Red Sea coast.
The firm will produce 500Kv aluminium and copper cabling from the site at a rate of 34,000 tonnes a year, according to local newspaper Al Riyadh.
The plant is a joint venture between Al Suwaidi, which owns 60% and Saudi firm, Al Raghi Group.
An Al Suwaidi spokesman told the paper that the firm is planning to increase export capacity to 80% by the end of the year, with around 30% of this going to the European and Middle Eastern market, and the rest destined for Africa.