Aamal Q P S C : Cables for Trading and Contracting Wins Three Year KAHRAMAA Contract Worth QAR 694 million

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16 August 2020

Aamal Cables for Trading and Contracting wins three year KAHRAMAA contract worth QAR 694 million

Doha, Qatar -16 August 2020- Aamal Cables for Trading and Contracting, a subsidiary of Aamal Company Q.P.S.C. ('Aamal'), one of the leading diversified companies in the region, is pleased to announce that it has been awarded a three year contract by Qatar General Electricity & Water Corporation ('Kahramaa') to supply medium voltage 11KV and pilot power cables.

Under this contract, Aamal Cables for Trading and Contracting will provide 2,960km of 11KV medium voltage cables and 3,200km of pilot cables to Kahramaa to be used across its entire distribution network. The contract is worth almost QAR 694 million over three years and is expected to positively impact Aamal Cables' revenues for the fourth quarter of 2020, during which period the first orders are scheduled to be delivered.

H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company Q.P.S.C., commented:

'We are very pleased that Aamal Cables has been awarded such a major contract, despite the challenges of COVID-19 on the local and global landscape. This is an excellent example both of Qatar's resilient economy and of Aamal's resilient business model. Aamal Cables is an entirely local Qatari company and we are honoured to have been chosen to supply locally produced cables to such a leading organisation as Kahramaa. Aamal's strong relationship with Kahramaa is based on trust and commitment and we are proud to be playing our part in the ongoing development of Qatar's advanced infrastructure and industrialisation.'

H.E. Sheikh Mohamed Bin Faisal Al Thani, CEO and Managing Director of Aamal, commented:

'As we enter the final third of the year, this contract with Kahramaa provides a positive sign of recovery from the challenges of the pandemic and is an indication of the increased activity that we expect to see within Aamal's Industrial Manufacturing segment. I would like to thank Kahramaa for their trust in the excellence of local products and for their continued support of Qatar's private sector. Aamal's strong foundations and diversified business model allows it to benefit from opportunities across Qatar's economic spectrum. It is recognised by many leading Qatari and international companies as being an ideal partner and we are proud that Kahramaa has chosen to place their trust in us.'

Further enquiries

Aamal Company Corporate Communications:
Laura Ackel, Communications and Marketing Officer (mobile # [phone]) Mira Al Ahmad,Senior Communications and Marketing Officer (mobile # [phone])	[e-mail] [e-mail]

About Aamal Company Q.P.S.C.

Aamal is one of the Gulf region's leading diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As on 13 August 2020, the Company had a market capitalisation of QAR 4.8bn (US$ 1.3bn).

Aamal's operations are widely diversified and comprise 26 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar's wider economic growth and development.

For further information on Aamal Company, please refer to the corporate website:http://www.aamal.com.qa

About Aamal Cables for Trading and Contracting

Aamal Cables was established in 2020 as a subsidiary of Aamal Company Q.P.S.C supplying the Qatari market with locally produced high quality power cables. The Company provides different types of power cables - high, medium and low voltage - in addition to other types of cables.

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