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Ducab India signs pact with Emirates NBD to fund expansion plan

Monday, 29 Jan 2024
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Ducab India, part of the Ducab Group which provides energy solutions and manufacturing in the United Arab Emirates (UAE), has signed its first bilateral partnership with Emirates NBD India for expansion of its wires, cables and metal solutions in India.

Through the partnership, Emirates NBD will support the working capital requirements and capex expansion plans of Ducab in India. It will assist Ducab in financing local projects with its financing experience. It will also assist in risk management by leveraging the local currency settlement (LCS) mechanism to be promoted through the bilateral trade and investment between Ducab India and UAE.

The Group opened its office in Bengaluru last year to strengthen its operations and presence in the region. It would build on the robust partnership with Emirates NBD Group, which has enabled both entities to grow together across various markets.

While its new partnership agreement with Emirates NBD will establish Ducab as a player in integrated energy solutions, it underscores the key role played by the Group, and national companies in accomplishing the UAE’s strategic national and global objectives.

 

 
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