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NMDC

UAE, UAE, ABU DHABI - Energy & Mining

Yasser Zaghloul

Group CEO, National Marine Dredging Group

Bio

With nearly three decades of proven expertise, Yasser Zaghloul is the current Group CEO of NMDC Group, Chairman of The Challenge – the Egyptian Emirates Marine Dredging Company, and a member of the board of the Abu Dhabi Chamber of Commerce and Industry, assigned by His Highness UAE President Sheikh Mohammed bin Zayed Al Nahyan. Prior to taking the leadership position at NMDC, Zaghloul was the head of operations of the company from 2006-2009 and held managerial positions between 1998 and 2006. Before joining NMDC, he worked at the Suez Canal Authority in Egypt. He started his career as a researcher at the Higher Institute of Technology in Egypt. He holds a master’s degree in strategic management from Cambridge College Global and a bachelor’s degree in engineering from the University of Helwan, finishing top of his class.

"In 2022, the group experienced remarkable growth in both revenue and net profit."
NMDC Group’s specialized knowledge and expertise have helped enhance the region’s infrastructure and facilitated the distribution and export of oil, while preserving the ecosystem.
UAE’s National Marine Dredging Company achieved record revenues in 2022. What factors contributed to the group’s success?

In 2022, the group experienced remarkable growth in both revenue and net profit. We secured unique and specialized contracts valued at over AED9.6 billion, which demonstrated the success of our expansion plan and our efforts to diversify into new business verticals. Throughout the year, our net profit grew by 30% to reach AED1.3 billion, while our revenues increased by 35% to AED10.7 billion by the end of 2022. This year, we continued our string of record profits, achieving a record growth by 366% to reach AED303 million in 1Q2023. We attribute our success to several factors, including our clear and ambitious plan to drive additional growth and maximize our return on investment, further solidifying our leading position in the engineering, procurement, construction (EPC) and marine dredging industries. To achieve this, we focused on enhancing cost optimization, supply chain management, resource efficiency, and productivity across all levels. Second, the acquisition of National Petroleum Construction Company (NPCC) in 2021 was instrumental in consolidating our operations into a unified and robust group. Third, the confidence of our strategic partners in our ability to execute a diverse range of specialized and complicated projects in line with the long-term strategic goals of the UAE and those of the countries where we operate. However, this would not have been possible without the endless efforts and commitment of the entire NMDC Group.

NMDC Group has achieved many milestones across marine and energy sectors. Which projects have stood out?

We take great pride in executing critical infrastructure projects with the highest levels of efficiency and competency, as well as building an impressive project pipeline, which is currently worth more than AED54 billion. We were awarded a dredging and reclamation contract from Ansab General Contracting Company for the dredging and reclamation of approximately 20 million cbm material from a pre-approved Borrow Area. Additionally, we are working on the Umm Lulu offshore oil field for ADNOC, with 14 platforms constructed over two phases so far, including the Umm Lulu Gas Treatment Plant (ULGTP), the world’s largest offshore oil platform. It is worth noting that the ULGTP, manufactured by NPCC, broke a Guinness World RecordsTM title for the “heaviest single-module topside on a fixed steel jacket,” an achievement we are very proud of. We were also awarded a USD548-million contract by ADNOC to build a new main gas line at its Lower Zakum field offshore of Abu Dhabi, with an aim of increasing Lower Zakum field’s gas production capacity from 430 million to 700 million standard cbft per day. We are also continuing the dredging, land reclamation, and marine construction works for ADNOC to build multiple artificial islands as part of the Hail and Ghasha project. Other major projects include the expansion project of the Suez Canal, the Habitat Compensation Island shaped to create an ideal habitat for mangroves, fish, insects and birds, and the wind farm contract to install monopile foundations on the Yunlin offshore wind farm in Taiwan.

What partnerships has NMDC Group forged recently?

In addition to our milestones and projects, we highly value partnerships and recognize their importance in expanding our business portfolio both in the UAE and around the world. Last year, we partnered with Abu Dhabi Ports Group to establish SAFEEN Surveys and Subsea Services, a new joint company to conduct offshore surveys and subsea services in the UAE, across the GCC region, as well as in select international markets. We also partnered with Technip Energies to establish a new joint venture NT Energies that aims to support energy transition in the UAE, the region, and North Africa by providing added value services in blue and green hydrogen and related decarbonization projects, carbon capture in addition to industrial projects in the fields of waste-to-energy, biorefining, biochemistry, as well as other energy transition related themes.

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