NMDC’s subsidiary awarded $653mln project contract

Abu Dhabi – National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company (NMDC), was awarded a project contract valued at $653.17 million.

The ADX-listed company highlighted that the engineering and construction will be completed within 30 months, according to a bourse disclosure released on 1 May 2024.

In October 2023, the unit and ADNOC teamed up for the Hail and Ghasha Offshore Development project, which was valued at AED 30 billion.

NMDC logged net profits attributable to the shareholders worth AED 2.15 billion in 2023, an annual hike from AED 1.30 billion

Revenues jumped to AED 16.70 billion last year from AED 10.68 billion in 2022, while the basic and diluted earnings per share (EPS) attributable to the owners grew to AED 2.61 from AED 1.58.