Abu Dhabi-based National Marine Dredging Co. (NMDC) said it has won two projects with a combined value of 635 million dirhams ($173 million).
The Dadna Fujairah Project, whose scope includes dredging, reclamation, breakwater, quay wall and demolition works, is valued at 485 million dirhams, and is expected to be executed over 18 months, the company said in a statement to Abu Dhabi Stock Exchange where it is listed.
Bardawil project which has been awarded to NMDC’s joint venture in Egypt, the Challenge Egyptian Emirates Co., comprises dredging works in the Bardawil Lake This project has a total value of approximately 150 million dirhams and is expected to be executed in less than a year.
NMDC, which is 65 percent owned by holding company Alpha Dhabi, was formed from a merger between NMDC and NPCC. Early this year, it won a 5.2 billion dirham award from state-owned oil company, ADNOC, to build artificial islands A semi-governmental entity, NMDC made a net loss of 27 million.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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