Business development
LIVE: NMDC Group Brand Reveal Event
National Marine Dredging Company (NMDC), an engineering, procurement, construction (EPC) and marine dredging company, will host the NMDC Group Brand Reveal Event today. NMDC, the Abu Dhabi based giant, is involved in dredging and marine civil construction, delivering a range of services including th
Van Oord’s subsidiary Wicks invests in state-of-the-art equipment
Van Oord’s subsidiary Wicks has acquired three new Junttan Rapid Impact Compaction (RIC) machines. The addition of this latest generation of state-of-the-art equipment into Wicks’ fleet will not only augment its power and performance but also promote sustainability and energy efficiency. RIC is a so
NMDC doubles net profits during 9 months of 2023
The National Marine Dredging Company (NMDC) has announced its record growth rates in net profits during the third quarter of 2023, reaching AED1.513 billion ($412 million) for the first nine months. Commenting the news, Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of NMDC, said: “During the t
EXCLUSIVE VIDEO: NEOM in Progress – October 2023
NEOM has just released an amazing video named ‘NEOM in Progress – October 2023’. NEOM – said to be the brainchild of Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) – is a futuristic mega-city planned for construction in northwestern Saudi Arabia. With more than 60,000 workers currently on gro
EXCLUSIVE: Saudi Arabia launches Jeddah canal MEGAPROJECT
Saudi Arabia has launched a mixed-use megaproject near Jeddah that includes an 11km canal. ROSHN Group – Saudi Arabia’s biggest developer, owned by the kingdom’s Public Investment Fund – last week announced plans to develop MARAFY, located north of Jeddah, that will accommodate more than 130,000 res
BREAKING NEWS: Dredging pays off already, colossal MSC Loreto docks in Jeddah
The Saudi Ports Authority (MAWANI) said that the largest container ship in the history of Saudi Arabian Ports arrived at Jeddah Islamic Port yesterday. The vessel, MSC Loreto, is affiliated with the Swiss shipping line “MSC”. According to MAWANI, the container ship is 400m long, 61.3m wide, with a c
NMDC posts record-breaking numbers in the first half of 2023
National Marine Dredging Group (NMDC) has announced a significant surge in its net profit during the first half of 2023, reaching AED 881 million (near $240 million). The first half year results demonstrate record-breaking numbers and substantial growth in both revenue and net profit, with the Group
Hudayriyat Mega Project: NMDC builds the world’s first manmade mountains
National Marine Dredging Company has just released the latest update on the Hudayriyat Island development scheme. This mega project – to be spearheaded by developer Modon Properties – will span more than 51 million square metres, accounting for more than half of Abu Dhabi Island. NMDC Group’s dredgi
EXCLUSIVE: ADNOC L&S wins $975M deal for construction of artificial Island G
ADNOC Logistics and Services has won a $975 million contract to build an artificial island in the Lower Zakum offshore field. As part of ADNOC’s In-Country Value program, at least 75% of the total contract value for dredging, land reclamation and marine construction of an artificial island “G” for t
Jan De Nul reports highest turnover ever
Despite continuous uncertainty, Jan De Nul Group said that 2022 fulfilled their expectations. The company achieve strong results: 2022 will also remain earmarked in history as the year of the armed conflict in Ukraine, Jan De Nul said. It was the onset of major global unrest with an immediate, devas
Early Bird tickets for Offshore Energy Exhibition & Conference 2023 now available!
Great news! Tickets for Offshore Energy Exhibition & Conference 2023 (OEEC) are now available for purchase! OEEC takes place on 28 & 29 November 2023 in RAI Amsterdam. Benefit from the Early Bird price and buy your ticket here to get a 25 % discount by using the code EARLYBIRD2023. OEEC is a premier
NEOM, Riyad Bank sign Sindalah financing deal
NEOM has signed an agreement with Riyad Bank for SAR 3 billion ($800 million) in debt financing to help fund the development of Sindalah, marking the first NEOM region to be successfully financed with bank debt. Extending over an area of approximately 840,000 square meters, Sindalah, is one of a gro
Q1 results: Boskalis looks ahead positively
Boskalis has just announced that they concluded a busy and good first quarter. Both revenue and earnings increased compared to Q1 2022 and both major divisions – Dredging & Inland Infra and Offshore Energy – contributed to this growth. A lot of new work was secured during the quarter leading to an i
EXCLUSIVE: Top dredging players in race for NEOM Duba Port contract
NEOM has invited selected companies to bid for a contract to complete the next phase of the Duba Port Expansion at Oxagon Industrial City. According to MEED, the companies need to submit their offers before May 11. The prospective bidders are: The contract to execute the first phase of the Duba Port