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ADNOC L&S H1 net profit $420m

The company’s revenue reached $2.43bn

SEC H1 net profit $1.67bn

Revenue grew by 24% to $7.38 billion.

DEWA profit after tax $789m

It will pay $843m in H1 dividend.

IHC H1 net profit $2.94 billion

The company posted 31% increase in revenue.

ADNOC Gas signs LNG deal

Will supply 0.5mmtpa of LNG to India's HPCL.

NMDC wins $354m contract

The contract is for the Shamal Development marine works.
  • The Shamal Development is part of the Khalifa Port located in Taweelah in Abu Dhabi
  • It was built on a reclaimed artificial island reaching 4.5 km offshore

The UAE-based National Marine Dredging Company (NDMC) has won a AED1.3-billion ($354-million) contract from AD Ports Group, official sources have said.

The contractor, which works in the field of engineering, procurement, construction, and marine dredging in the Middle East, has been awarded the contract for engineering and construction of the Shamal Development marine works, the sources have said.

The Shamal Development is part of the Khalifa Port located in Taweelah, Abu Dhabi, midway between Mina Zayed and Jebel Ali Port, which was built on a reclaimed artificial island reaching 4.5 km offshore.

The scope of work is expected to include dredging of 16.8 million cubic meters, a 1.2-km quay wall, and the construction of an approximately 3.8-km-long detached breakwater.

It is also said to include ground improvement works for 1 million square meters along with environmental monitoring and protection measures.

The entire project is scheduled for completion in October 2023, said the official sources.

The new project is said to be in line with NDMC’s strategic expansion plans and aims to strengthen its position and expertise as a global engineering and construction powerhouse for high quality infrastructure development in Abu Dhabi serving the world.

Commenting on the new project, NMDC Group CEO Yasser Zaghloul was quoted by the official sources as saying: “The contract is part of our strategic plans to expand our operations in the UAE and beyond.”

He added: “We have strategic expansion plans for 2022 and the following years, and as a group, we will be entering new markets and enhancing our presence in existing ones undertaking complex projects and sharing our expertise.