Ducab India, a part of Ducab Group which is into power options and manufacturing within the United Arab Emirates (UAE), has signed its first bilateral partnership with Emirates NBD India for continued growth of its wires, cables and metallic options in India.
The Group final yr opened its workplace in Bengaluru.
Through the partnership, Emirates NBD might be supporting the working capital and capex growth plans of Ducab in India. It will help Ducab in financing native tasks by its challenge financing expertise in a number of dimensions.
It can even help in Risk Management by leveraging the LCS (Local Currency Settlement) Mechanism which might be promoted by the bilateral commerce and funding between Ducab India and UAE.
Abdulnasser Jamal Alshaali, UAE Ambassador to the Republic of India in a press release stated, “Ducab’s growing operations in India, and particularly this new partnership agreement with Emirates NBD – another ‘National Champion’ company in the UAE – unmistakably underlines the key role that the Group, and national companies in general, play in accomplishing the UAE’s strategic national and global objectives.”
Mohammad Almutawa, Group CEO at Ducab, stated, “This new bilateral partnership is an extension of our existing robust partnership with Emirates NBD Group, which has enabled both entities to grow together across various markets.”
