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 manufacturer of high conductivity copper products in Thailand, to manufacture high-quality copper products in the UAE.

The MoU was signed by Ahmad Hamad Bin Fahad, CEO of Dubal Holding, and Tuang-Hong Thiptarangoon, President of Oriental Copper, during a ceremony in the presence of representatives from the both sides.

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.

A significant step towards import substitution, this 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 30,000 MT of copper processing per annum.

Commenting on this partnership, Ahmad Hamad Bin Fahad said, “We are pleased to sign this Memorandum of Understanding  with Oriental Copper, one of the leading manufacturers of high-conductivity copper bus bars and other copper fabricated products worldwide. This Memorandum of Understanding is a vital step in meeting the region’s need for downstream copper products, which is now primarily met by imports.

“We are confident this joint venture will increase local employment opportunities and boost the regional economy. This further aligns with our sustainability objectives, as Oriental Copper products foster green energy and lower carbon footprints in the UAE.”

Under this MoU, Dubal Holding will assist with local resources and be 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.

Thiptarangoon, in turn, said, “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, positively influencing the economy’s long-term growth.”

As part of the MoU, both parties will invest a capital expenditure (Capex) of about Dhs150 million. The production unit will utilise innovative techniques, including hot extrusion and conform processes.

Oriental Copper is a renowned manufacturer that produces high-conductivity copper bus bars and other copper fabricated goods utilised in the global electrical, electronics, and non-electrical industries.

Dubal Holding (DH), the investment arm of the Dubai Government in the commodities and mining, power and energy, and industrial sectors, reported a net profit of Dhs3.7 billion in 2022, reflecting a 37 per cent increase from the previous year’s figure of Dhs2.7 billion. This was disclosed at the annual general meeting of Dubal Holding earlier this year.

Members of the board and management of Dubal Holding were present at the meeting, along with its auditors and shareholder representatives from Investment Corporation of Dubai (ICD).

The company witnessed an exceptional year owing to a combination of optimal investments in multiple industrial sectors and efficient operational performance.

With the laying of the foundation stone for a titanium slag facility in the Sohar Free Zone in the Sultanate of Oman, the Sohar Titanium Project, a strategic project with Dubal Holding as one of the shareholders, made good progress during the year. By mid-2025, it’s anticipated that the facility will commence operation