BREAKING NEWS: NMDC wins $1.37B Abu Dhabi dredging contract

NMDC Group has secured a 5.05 billion UAE dirhams ($1.37 billion) contract from Modon Holding.

According to NMDC’s filing to the Abu Dhabi Exchange (ADX), the contract includes marine dredging, reclamation and ground improvement works in Abu Dhabi.

No project details were given.

The Emirati group, formerly known as National Marine Dredging Company, has a strong track record of delivering major projects with innovative and cost-effective solutions.

Last month, the group closed the initial public offering (IPO) of NMDC Energy, which listed 23% of its total share capital on ADX.