Exchanging the partnership deals
Oman Cables Industry (OCI), a leading company in the cables and systems industry and part of the Prysmian Group, has signed a deal with 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 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. Farisè 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.”
Khurana 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.”-- TradeArabia News Service