Company to focus on exports, expand operations in Iraq

KUWAIT: Chairman Bader Naser Al-Kharafi (third right) addresses the general assembly meeting of Gulf Cable & Electrical Industries Company yesterday.

KUWAIT: Chairman of Gulf Cable & Electrical Industries Company Bader Naser Al-Kharafi said the weakness of government projects in Kuwait made the company concentrate on exports and be active in Iraq through its factory in Jordan and the UAE market. He hoped bigger projects are introduced in Kuwait, "with our company having a share in them".

Al-Kharafi, who spoke during the company's general assembly that was held with 71.94 percent of members attending, said the company's results were excellent in 2016. He expected the company to have a larger share in existing projects in the oil sector, such as the $6.4 billion Clean Fuels project, as well as future housing projects and other projects such as the airport. He said it is necessary to support Kuwaiti products over foreign ones, but "we regretfully did not see this in the government sectors lately".

Al-Kharafi said exports have increased lately, explaining that "we cover the entire surrounding region". "The Saudi market dropped a little because competition is very tough there, so we are targeting Iraq and Syria when its market opens, especially since we are more qualified because our factory is in Mafraq in Jordan not far from Syria, but the current situation is not comforting," he said. Al-Kharafi said oil price drops negatively affected government projects and expenditure, which in turn affected projects.

Gulf Cable & Electrical Industries Company was established in 1975 with the objective of meeting growing local requirements and to provide users with quality wires and cables. The company's large and modern factory was commissioned in October 1979.