Abu Dhabi-based National Marine Dredging Company said on Wednesday that it has signed a Memorandum of Understanding with South Korea's Daewoo Engineering & Construction (Daewoo E&C) to jointly explore onshore and offshore engineering, procurement and construction project opportunities across the Middle East and Africa (MEA) region.
 
NMDC said in a press statement that the two entities would also focus on marine, dredging, and reclamation projects and identify opportunities in industries such as energy, port development, and urban development projects.
 
The statement said that the two companies would aim to work on a project-to-project basis across specified geographical areas of operation through joint ventures or a mutual understanding between the two entities for securing fresh business opportunities.
 
It noted both companies would provide each other with technical and other relevant support through a joint venture agreement or any other contractual form to enable both entities to pre-qualify for a tender process and secure and execute projects during the tendering.
 
(Writing by N Madhura; Editing by Anoop Menon)
 
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