Abu Dhabi-listed NMDC Group has secured a 5.05 billion UAE dirhams ($1.37 billion) contract from Modon Holding.

The contract includes marine dredging, reclamation and ground improvement works in Abu Dhabi, the company said in a bourse filing this week. 

No project details were given.

Last week, ADX-listed Modon Holding Chairman Jassim Al-Zaabi told the semi-official UAE daily Alittihad that the company would start working on Phase 1 of the Ras Al-Hekma project in Egypt within one month. 

ADQ announced earlier selecting Modon Holding as the master developer of the mega project.

In August, NMDC Group secured a contract worth more than $200 million from the Abu Dhabi National Oil Company for marine dredging works in the Ruwais LNG Project.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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