Press releases, Reports & Disclosures for National Marine Dredging Co.

The Board of Directors of the National Marine Dredging Company PJSC will hold a meeting via video conference on Wednesday, 24 July 2024, at 4 p.m. The purpose of the meeting is to consider and approve the draft financial results for the second quarter of the current financial year 2024. The notification is signed by Eng. Yasser Nassr Zaghloul, Group Chief Executive Officer, and a copy has been sent to the Securities and Commodities Authority (SCA).

The NMDC Group has announced that its subsidiary, NMDC Energy (formerly known as National Petroleum Construction Company), has been awarded a new project by ADNOC Gas. The project, named Estidama Project Package-6 Pipeline, involves engineering, procurement, and construction (EPC) of a pipeline and its associated facilities. The total value of the project is USD 254,564,031.

NMDC has been awarded a contract by Jubail Island Investment Company for the Abu Dhabi Mangrove Channel Widening Works (Area 2 and 3) project. The contract is valued at AED 129,640,690 and is expected to be completed in 180 days.

NMDC Energy, a subsidiary of NMDC Group, has been awarded a contract by ADNOC for the engineering, procurement, and construction of the lower-carbon Ruwais LNG project in Al Ruwais Industrial City. The project is valued at USD 5.5 billion, with NMDC Energy holding a 20% share. The project is expected to be completed in 57 months.

The Board of Directors of the National Marine Dredging Company held a meeting on 2 May 2024 via video conference. During the meeting, they approved the company's draft financial statements for the first quarter of the financial year 2024. The board also discussed recent developments related to the company's activities and projects. The information was shared by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul. A copy of the financial statements was sent to the Securities and Commodities Authority.

The Management Discussion and Analysis for the National Marine Dredging Company PJSC (NMDC) for the three-month period ending 31 March 2024 shows a significant increase in revenue and profit compared to the same period in 2023. Revenue rose from AED 3,208 million in Q1 2023 to AED 5,342 million in Q1 2024, primarily due to ongoing projects awarded by a major Abu Dhabi developer and other projects in the UAE and Saudi Arabia. Gross profit increased from AED 323 million to AED 802 million, and net profit rose from AED 303 million to AED 641 million. The geographical distribution of revenue remained consistent in both periods, with the UAE accounting for the majority of the revenue.

The National Marine Dredging Company PJSC has released its unaudited interim condensed consolidated financial statements for the three-month period ending on 31 March 2024.

The Board of Directors of the National Marine Dredging Company held a meeting on 2 May 2024 via video conference. In this meeting, they approved the Company's draft financial statements for the first quarter of the current financial year 2024. The board also discussed recent developments related to the company's activities and projects. The meeting was led by Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul. A copy of the financial statements was sent to the Securities and Commodities Authority (SCA).

The Board of Directors of the National Marine Dredging Company held a meeting on 2 May 2024 via video conference. During the meeting, the board approved the company's draft financial statements for the first quarter of the current financial year 2024. The board also discussed recent developments related to the company's activities and projects. The information was shared by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul.