Posted on November 25, 2024
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 for more than US$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 the port is complete, it will facilitate the export of chemicals and transition fuels, ensuring operational connectivity to regional and global markets and enhancing access to imported supplies.
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 in 2024 by the group.
In September 2024, NMDC Energy was listed on the Abu Dhabi Securities Exchange (ADX) following an Initial Public Offering (IPO) which was oversubscribed by 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.
