National Marine Dredging company the “Group” reports net pro… – MENAFN.COM

National Marine Dredging company the “Group” reports net pro… – MENAFN.COM

(MENAFN- Mid-East. Info) Abu Dhabi, United Arab Emirates: National Marine Dredging Company (NMDC) reported a significant increase in net profit of AED 501 million for the nine-months from January to September 2021. The profitable third quarter performance followed the integration of NMDC and National Petroleum Construction Company (NPCC) to become a regional leader in providing integrated oil & gas and marine EPC services. NMDC's strong performance is highlighted by a nine-month (Jan to Sept) 2021 revenue of AED 5. 380 billion, higher than the revenue of AED 2. 786 billion during the same period last year. Underlining the strong recovery following the pandemic, the profitable financial performance was backed by strong new business wins. In milestone wins, NMDC was awarded the AED 485 million Dadna Fujairah Project, the AED 150 million Bardawil project and the AED 290 million Damietta project in Egypt. The Group continued to achieve new milestones in its ongoing projects such as Hail and Ghasha for ADNOC in the UAE and long-term agreements for various projects in the Kingdom of Saudi Arabia. In the third quarter of 2021, NPCC was selected as one of the eight companies to be awarded the opportunity to provide engineering services for