Abu Dhabi's NMDC awarded $164mln contract in Egypt

NDMC explained the project will be implemented in partnership with Al-Tahadi Egyptian-Emirati Co, and will be completed in two years

  
Water buffaloes swim in Lake Manzala, north Nile Delta, northeast of Cairo, Egypt, September 15, 2018. Image used for illustrative purpose.

Water buffaloes swim in Lake Manzala, north Nile Delta, northeast of Cairo, Egypt, September 15, 2018. Image used for illustrative purpose.

REUTERS/Amr Abdallah Dalsh

ABU DHABI  - The National Marine Dredging Company announced today that it has been awarded an AED600 million contract for the expansion of Lake Manzala in northeastern Egypt.

The company disclosed the value of the award in a letter to the Abu Dhabi Securities Exchange, ADX.

NDMC explained the project will be implemented in partnership with Al-Tahadi Egyptian-Emirati Co, and will be completed in two years.

NDMC posted net profits increased by 53.7 percent to around AED103.5 million during H 12020, as compared to the corresponding period of 2019.

© Copyright Emirates News Agency (WAM) 2020.

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