Abu Dhabi –  National Marine Dredging Company (NMDC) won an engineering, procurement, and construction (EPC) contract by Taiwan Power Company (Taipower) for a $1.13 billion project.

The project contract includes pipeline installation, shore approach works, and dredging for the second phase of the Tung-Hsiao Power Plant, according to a bourse statement.

Led by NMDC Energy as well as NMDC Dredging and Marine, the project marks the ADX-listed group’s strategic step towards entering the Taiwanese market.

The group will handle the design, development, and install 111 kilometres of the linear subsea pipeline at depths ranging from 10 metres to 55 metres, stretching between Taichung and TungHsiao on Taiwan's west coast.

NMDC Dredging and Marine holds a 38% stake in the joint project, with a value of $431.70 million.

Yasser Zaghloul, CEO of NMDC Group said: “This project highlights our ability to seamlessly integrate the expertise of our Group’s divisions to deliver comprehensive, end-to-end solutions.”

“We view Taiwan as a strategic market with immense growth potential, and our broader expansion into Asia underscores our commitment to becoming a global leader,” Zaghloul added.

It is worth highlighting that NMDC Group is the first Middle East-based company to execute a project in the oil and gas and marine industry of this magnitude in Taiwan.

NMDC recently rolled out a definitive agreement to acquire a 70% stake of the share capital and voting rights of Emdad LLC from its current shareholders.

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