Abu Dhabi: NMDC wins $35.2 million Jubail Island contract

Abu Dhabi-based marine and energy leader National Marine Dredging Company (NMDC) Group has been awarded a contract for the Abu Dhabi Mangrove Channel Widening Works (Area 2 and 3) project by Jubail Island Investment Company.

In a filing to the Abu Dhabi Securities Exchange (ADX) on Thursday, NMDC said the contract is valued at $35.2 million (approximately AED129.6 million).

The project is expected to be fully completed in 180 days, the filing said.

In January 2024, NMDC won a contract worth $136.8 million for the construction of an artificial island adjacent to the Al Nouf oilfield, awarded by Abu Dhabi National Oil Company(ADNOC).

The artificial island is part of ADNOC’s strategy to increase oil production capacity to five million barrels per day by 2030 and up the output at Al Nouf from 160,000 to 175,000 barrels per day.

Source: constructionweekonline

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