The National Marine Dredging Company announced a significant increase in net profit, reaching AED 501 million for the nine months from January to September 2021. This profit resulted from the merger between the National Marine Dredging Company and the National Petroleum Construction Company, which resulted in a leading regional provider of engineering services. Supply and construction for the oil and gas and marine sectors.
The strong performance of the group was reflected in achieving revenues of 5.38 billion dirhams for the nine months, higher than the revenues of the same period last year, which amounted to 2.78 billion dirhams.
The strong recovery was fueled by strong gains from the company’s new business. Among the most prominent achievements of the group during this period is the winning of the Dadna Fujairah project (485 million dirhams), the Bardawil project (150 million dirhams), and the Damietta project (290 million dirhams) in Egypt.
The group continued its operations in major projects such as Hail and Ghasha for ADNOC in the UAE and long-term agreements for its various projects in Saudi Arabia. In the third quarter, the company was selected among 8 companies that were given the opportunity to provide engineering services to ADNOC’s main projects, which are valued at about 3.67 billion dirhams.
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