Can you provide an overview of NMDC and its contribution to the development of Abu Dhabi?
NMDC is a homegrown UAE company that was founded in 1976, and over the past four decades, it has been instrumental in the economic, infrastructural, financial, communal, and social development of Abu Dhabi. Our work transcends different sectors and contributes to the advancement of energy, trade development, and the growth of real estate and tourism. Our projects in wet infrastructure, environmental protection, and sustainability have also had an enduring impact. Throughout many of these activities, we have worked in close collaboration with key Abu Dhabi stakeholders such as Abu Dhabi Government, ADNOC, Musanada, and Abu Dhabi Ports.
How has NMDC's approach to the market evolved in recent years?
Our objective in recent years has been to consolidate and engage in opportunities overseas. We have clearly defined our target markets; this is primarily the UAE, then the GCC, followed by the wider Middle East region. We are bullish on the Indian market. Our studies led us to narrow down the UAE, Egypt, and India. Our expansion efforts have intensified since the successful completion of the Suez Canal project in 2014 and the upper Zakum project building. These two landmark projects have strengthened our reputation as an international industry leader. We have several projects in the pipeline in the UAE and Egypt, where we now have a majority market share. Recently, we completed a legacy project in the Maldives. NMDC has chosen to invest wisely in the organization to ensure resiliency against external fluctuations and economic unpredictability. By applying resilient measures and reducing fixed costs, we are able to resonate more with clients. We have the confidence and the trust of clients to be successful even against aggressive competition.
What are some of the distinguishing features of your energy projects, and how will NMDC play an integral role in the future development of the sector?
NMDC has a strong relationship with ADNOC, and we have built long-term, strategic relationships with many of the other major stakeholders across the energy sector. This has been solidified through the successful completion of many significant projects. For example, we are building one of the largest projects in oil field development along with 11 islands for gas production. This is a significant indication of how ADNOC trusts us to meticulously execute complex projects. We have also completed the construction of the Barakah artificial reef in partnership with the Emirates Nuclear Energy Corporation (ENEC).