Marine Dredging Manager for Al Arabiya: 25 billion dirhams, the value of the contracts we are working on

National Marine Dredging Group Chief Executive Yasser Zagloul said the contract value for projects the group is currently working on is approximately Dh 25 billion, over the next few years to 2025, and the implementation period of each project varies from the other.

Yasser Zagloul added, in an interview with Al Arabiya, today, Wednesday, that the contracts for these projects include the Khalifa Port Development Project and the Umm Shaif Field Development Project in the United Arab Emirates, continuing: “We look forward to a more effective participation in the infrastructures of the national economies and of all the economies that operate from the group “.

He explained that the Zulf in Saudi Arabia is currently the group’s largest contract, noting that the group’s work on the project includes the construction of 29 oil rigs and 5 naval bases, the laying of marine cables with a length of 276 km, as well as the laying of pipelines with a length of 163 km.

Yasser Zaghloul referred to engineering, design and construction of offshore platforms in Abu Dhabi and then moved to the Zulf field.

The National Petroleum Construction Company, a subsidiary of the National Maritime Dredging Company, has been awarded a contract from Saudi Aramco worth AED 8.2 billion for the Zulf offshore project.

The contract consists of two packages and the project will be implemented in a period of three years.

The CEO of the National Marine Dredging Group said that the Umm Shaif field includes the construction of 8 platforms, the laying of pipelines with a length of 55 km and the laying of lines in submarine cable with a length of 53 km.

The Abu Dhabi National Oil Company (ADNOC) has announced the award of a contract worth 3.5 billion dirhams for the implementation of the sustainable development project for the Umm Shaif strategic field, to the National Petroleum Construction Company, a subsidiary of marine dredgers.

Yasser Zaghloul referred to his positive view of oil and all areas of development in the industry, given that after a period of complete stagnation during the Corona pandemic and global economies in great difficulties, and with the hope that the pandemic would end in 2022, there was an expansion in all over the world in supplies and operations.

He explained that clients currently have a positive and clear strategic vision of accelerating the development process in all fields in order to serve the anticipated leap in global economies in the oil, commercial and economic sectors in general.

The CEO said the group currently operates in Middle East, North Africa and India.

He added that his strategy focuses on diversification and strategic expansion across all global markets and, in solidarity with partners, we hope to be active in regional and global competition in various countries of the world.

As for the Alpha Abu Dhabi Holding Company which increased its stake in sea ​​dredgers by 3.4% through a purchase agreement that included investment funds, Yasser Zagloul said that Alpha Abu Dhabi owns more than 60 entities in all activities and industries globally and regionally, and increasing its share in the maritime dredging group means more support and solidarity, synergy and increases the performance and financial return of the group companies.

He continued: “Let’s hope so in greater cooperation and horizontal and vertical expansion in global markets and we clearly see our way of being on the list of top companies. “

He said there are no worries for 2022, but he warned and the group has a very strong plan for it, until there is a decline in the risk of price hikes.

He added that the biggest concerns were in 2021 and passed peacefully, and the impending risks will be less than in 2021, continuing: “The concern is very simple, but the caution is great.”

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