NMDC Group lands US 1.1 bn offshore pipeline contract in Taiwan: Abu Dhabi-based NMDC Group secured a US 1.1 bn contract for an offshore pipeline project in Taiwan, the company said in a disclosure (pdf). The project, awarded by Taiwan’s state-owned power firm Taipower, will be executed by NMDC Energy and NMDC Dredging & Marine.

What’s the scope? The contract involves the second-phase renewal of the Tung-Hsiao Power Plant on Taiwan’s west coast. NMDC Energy will handle the design, construction, and installation of marine pipelines at depths ranging from 10 to 55 meters, extending between Taichung and Tung-Hsiao. The project will also include connecting the offshore pipeline to the shore over a distance of about 1k meters and dredging approximately 6 mn cubic meters of material.

The company has a big portfolio overseas, including in Taiwan: NMDC Group’s project portfolio exceeded AED 24 bn as of September, with 55% of its projects outside the UAE, CEO Ahmed Al Dhaheri told Asharq Business recently. The company in 2022 secured a USD 99 mn contract to work on an offshore wind farm in Taiwan, and is also working on a carbon capture and storage initiative in Malaysia, Al Dhaheri said.

ICYMI- NMDC Group raised AED 3.22 bn from the ADX IPO of its EPC arm, NMDC Energy, last September after receiving over AED 88 bn in orders. By November, the group was pursuing AED 76 bn in new tenders and planning acquisitions, with its new logistics arm NMDC LTS agreeing to acquire a 70% stake in Abu Dhabi-based oil and gas services firm Emdad, later in December.

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