Oman Cables Industry SAOG : PARTNERS WITH FUJAIRAH GOLD TO ACHIEVE CONCRETE SUSTAINABLE GOALS

OMAN CABLES INDUSTRY PARTNERS WITH FUJAIRAH GOLD TO ACHIEVE CONCRETE SUSTAINABLE GOALS

STRONG FOCUS ON SCOPE 3 EMISSIONS THROUGHOUT THE ENTIRE VALUE CHAIN

Fujairah, 17 May 2023 - Oman Cables Industry (OCI), leading company in the cables and systems industry which is part of Prysmian Group, visited Fujairah Gold, Vedanta Group, to strengthen its partnership towards sustainable goals.

The two Companies, represented by Cinzia Farise', CEO of Oman Cables, and Puneet Khurana, CEO of Fujairah Gold, signed a Collaboration Agreement at the presence of H.E. Sharief Habib Al Awadhi Director General of Fujairah Free Zone Authority, Guest of Honor, with the scope to explore potential opportunities in different areas of collaboration: from jointly develop green copper rod from 100% secondary copper, to establish acceptability of Green Copper rod for cable manufacturing and jointly develop a value proposition for Green Copper to achieve sustainability goals and support Net Zero Carbon targets by 2050.

OCI's "Innovation for Sustainability" approach has three fundamental principles and ambitions: environmental, social and innovation responsibility. The company believes in minimizing its environmental impact and has established a set of guiding criteria that directs its innovation efforts involving all value chain, from upstream - through responsible sourcing - to downstream, partnering up with Customers to reduce losses during use phase.

This requires the adoption of a design for sustainability approach that includes strict criteria on carbon footprint, potential recyclability, hazardous substances, recycle input rate, transmission efficiency and environmental benefits in all products and new technologies. By prioritizing these criteria, OCI can develop products that are eco-friendly, energy-efficient and cost-effective, enabling Customers to choose greener options.

After a recent successful Innovation Day titled "Powering a Sustainable Future" conducted together with all Customers across the GCC Region, OCI is now focusing a responsible sourcing. Cinzia Farisè, CEO Oman Cables, said: "We are embarking on a transformational journey. Our ambition towards sustainability requires a joint effort with all our key stakeholders. While pursuing our net zero ambition, we must partner with the best ESG providers who embrace our same values and commitment to sustainability".

Puneet Khurana, CEO of Fujairah Gold concluded: "Vedanta is committed to delivering sustainable and responsible growth, which creates value for both our shareholders and all our stakeholders. We proactively engage to incorporate sustainability in all our practices, Embracing the philosophy of `Zero Harm, Zero Waste, Zero Discharge. We are very happy to associate with Oman Cables, Prysmian group and will work closely with them to pursue our net Zero ambition."

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ABOUT OMAN CABLES INDUSTRY (SAOG)

Oman Cables Industry (SAOG) is a leading cable manufacturer based in the Sultanate of Oman, with over 35 years of experience in the industry. The company develops, manufactures, and markets a wide range of electrical products, including medium voltage power cables, low voltage power & control cables, instrumentation cables, pilot cables, overhead power transmission line conductors, and building wires.

Oman Cables Industry is listed on the Muscat Stock Exchange (MSX) and is part of the Prysmian Group, a global leader in the cable industry. With offices in Oman, UAE, Qatar, Bahrain, and KSA, the company also has an extensive network of distributors and agents throughout the Middle East, Africa, Turkey & India (MEAT) region.

The company's commitment to quality and innovation has led to its success in the global market, with Oman Cables Industry ranking among the Top Global Wire and Cable Producers. The company also offers cables with unique specifications to meet various applications and environmental conditions, as well as customer requirements.

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