UAE’s NMDC wins $272 million Suez Canal dredging job

UAE’s National Marine Dredging Co. (NMDC) has won a contract worth AED 1 billion ($272 million) for dredging works in Egypt’s Suez Canal, the company said in a bourse filing on the Abu Dhabi Securities Exchange (ADX).

The job will include dredging operations on the waterway’s 122-132 KM section, as the project is expected to be completed in 2023, the statement added on Friday.

NMDC’s operations include ports and civil projects, refining and petrochemical operations, onshore operations, renewable energy, deep-sea operations and other related projects.