Posted on November 11, 2024
NMDC Dredging & Marine will commence development of a USD 300 million chemicals port
NMDC Dredging & Marine, part of NMDC Group, a global leader in engineering, procurement, construction (EPC), and marine dredging (Abu Dhabi Securities Exchange: NMDC), is set to begin work on a project valued at more than USD 300 million at TA’ZIZ, the UAE’s world-class chemicals and transition fuels ecosystem.
NMDC Dredging & Marine will provide engineering, procurement, and construction support to develop a dedicated chemicals port. When complete, the port will facilitate the export of chemicals and transition fuels, ensuring operational connectivity to regional and global markets and enhancing access to imported supplies.
NMDC Dredging & Marine will commence development of a USD 300 million chemicals port
Eng. Yasser Zaghloul, CEO of NMDC Group, said: “NMDC Group is proud to be a strategic facilitator of this profoundly significant project, and we’re delighted that our capabilities will help to advance the UAE’s ‘pro-climate, pro-growth’ economic aspirations.”
Eng. Niels de Bruijn, CEO of NMDC Dredging & Marine, said: “Our marine, dredging and construction works at TA’ZIZ will enable the establishment of a dedicated chemicals port, ensuring the efficient transportation of goods and providing the necessary support and reach for key markets around the globe.”
NMDC Dredging & Marine’s contribution to the TA’ZIZ project closely follows a series of strategic announcements by the group in 2024. In September 2024, NMDC Energy was listed on the Abu Dhabi Securities Exchange (ADX) following an Initial Public Offering (IPO) that was oversubscribed 31.3 times. NMDC Energy has also joined a group of 15 listed entities, known as the FADXI15, forming a Shariah-compliant index for global Islamic investors.
