Ducab India, a subsidiary of Ducab Group, specializing in energy solutions and manufacturing in the UAE, has inked its inaugural bilateral partnership with Emirates NBD India. The collaboration aims to foster the continued expansion of Ducab’s wires, cables, and metal solutions in the Indian market. Following the establishment of its Bengaluru office last year, Ducab is set to leverage the support of Emirates NBD in working capital and capex expansion initiatives in India.
Emirates NBD will play a pivotal role in financing Ducab’s local projects, drawing on its extensive experience in project financing across various dimensions. The partnership will also incorporate risk management through the Local Currency Settlement (LCS) Mechanism, which will be integral to facilitating bilateral trade and investment between Ducab India and the UAE.
Abdulnasser Jamal Alshaali, UAE Ambassador to the Republic of India, emphasized the significance of Ducab’s growing operations in India and highlighted the strategic role played by national companies, such as Ducab and Emirates NBD, in achieving the UAE’s global objectives.
Mohammad Almutawa, Group CEO at Ducab, characterized the new bilateral partnership as an extension of the existing robust collaboration with Emirates NBD Group. He acknowledged the synergy between the two entities, fostering growth across diverse markets.
