Abu Dhabi-based National Marine Dredging Company (NMDC) has been awarded the expansion project of Lake Manzala in Egypt valued at AED600 million ($164 million), Zawya reports.
NMDC in a letter to Abu Dhabi Security Exchange, ADX, has indicated that the execution will take place in collaboration with Al-Tahadi Egyptian-Emirati Co. and will cover two years.
The Emirati company provides marine contracting including dredging and land reclamation; geotechnical works. Through its main subsidiaries, it manufactures concrete products including hollow core slabs, precast concrete, panels, columns, beams, boundary walls and stairs.
It also provides engineering consultancy services; manufactures steel pipes and fittings; and offers offshore contracting.
The company saw its net profits increased by 53.7 percent to around AED103.5 million during H1 2020, as compared to the same period last year.