The cable producer Emirates International Investment Company (EIIC), from the United Arab Emirates, intends to build six aluminum cable making plants in the United Arab Emirates, Saudi Arabia, Algeria, Romania and Vietnam by making investments amounting to 490 million dollars, informs the publication Khaleej Times Online.
For the plants in Romania, Saudi Arabia and Vietnam they have finalized the building plans and the plots of land on which the future plants will be built have already been chosen.
The decision made by EIIC to build these plants in the five above-mentioned countries comes at a moment when the region witnesses a boom in constructions. To meet the market demand halfway, the EIIC estimates it will produce 40,000 tonnes of copper cables and 7,000 tonnes of aluminum cables a year.
According to the National Statistics Institute in Romania, the value of the construction works increased in real terms by 32.2 percent in the first quarter of 2008 as against the similar span of time in the previous year. According to Eurostat, Romania came second in the European Union as regards the growth of the annual pace of construction works (36.6 percent) in February. Slovenia alone was ahead of it (41.6 percent).