Search Site

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Emirates half-year profit $2.5bn

The record profit is subject to new 9% corporate tax for the first time.

Lulu’s IPO raises $1.72bn

The proceeds make it the largest UAE IPO of 2024 to date.

NMDC, AD Ports Group ink MoU

In June 2022, NMDC and AD Ports Group established a joint company - SAFEEN Survey and Subsea Services. (WAM)
  • The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
  • The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.

ABU DHABI, UAE – NMDC Group has signed a Memorandum of Understanding (MoU) with AD Ports Group to further boost cooperation on international projects.

The agreement was signed by Yasser Zaghloul, Group Chief Executive Officer of NMDC, and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, during the International Association of Ports and Harbors (IAPH) Conference 2023 taking place in Abu Dhabi between October 31 – November 2.

As part of the MoU, the two firms will continue to work closely together on future international projects, utilizing NMDC’s world-class Engineering, Procurement, and Construction (EPC) and marine dredging capabilities to enable AD Ports Group to successfully continue to undertake large scale international projects.

The agreement is also in line with the objectives of the national strategy for industry and advanced technology.

Zaghloul said, “We are delighted to continue our relationship with AD Ports Group. This MoU will enable us to explore new opportunities for collaboration and expand the range of innovative solutions we can provide.”

He said, “We plan to leverage our full capabilities, resources and exceptional workforce to fully support AD Ports Group to achieve even greater success in the years to come.”

Al Shamisi said, “The signing of this MoU is a significant milestone in the relationship between NMDC and AD Ports Group. It demonstrates our shared commitment to work together to strengthen the global maritime industry and support the economic growth of the UAE.”

He said, “We look forward to collaborating on a range of global projects and initiatives in the coming years to further strengthen our position at the forefront of international infrastructure development.”

In June 2022, NMDC and AD Ports Group established a joint company – SAFEEN Survey and Subsea Services – to conduct offshore surveys and subsea services in the UAE, across the GCC region, as well as in select international markets.

The company offers a unique portfolio comprising offshore surveys (geophysical and geotechnical), trenching and dredging support services.

The company also provides integrated subsea services, such as commercial diving services, remotely operated vehicles and unmanned inspections vessels, along with the provision of customized, cost-effective and innovative solutions tailored for offshore operations related to the oil, gas and renewable energy sectors.