NMDC awarded AED600 million contract in Egypt

ABU DHABI: The National Marine Dredging Company (ADX: NMDC) announced today that it has been awarded an AED600 million contract for the expansion of Lake Manzala in northeastern Egypt.

The company disclosed the value of the award in a letter to the Abu Dhabi Securities Exchange, ADX.

NDMC explained the project will be implemented in partnership with Al-Tahadi Egyptian-Emirati Co, and will be completed in two years.

NDMC posted net profits increased by 53.7 percent to around AED103.5 million during H-1 2020, as compared to the corresponding period of 2019.

 

 

Source: WAM – Emirates News Agency

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