Inside NMDC Group’s Growth Beyond the UAE
NMDC Group, founded in 1976 in the UAE, has grown into a leading company in construction, energy, and marine services. It is listed on the Abu Dhabi Securities Exchange (ADX) and works on both land and sea projects, offering engineering, procurement, and construction (EPC) services.
Over nearly 50 years, NMDC has expanded across the Middle East, North Africa, Europe, and Southeast Asia. Today, it is a key player in large infrastructure and energy projects.
As of June 2025, the company was valued at $5.7 billion, with total assets of $9.9 billion and an order backlog worth over $18 billion. In the first half of 2025, it earned a net profit of $490 million, up 20% from the same period in 2024. Revenues also rose 10% to $3.65 billion.
Under CEO Yasser Zaghloul, NMDC has expanded rapidly and gained global recognition. In 2025, it ranked 48th on Forbes Middle East’s Top 100 Listed Companies, while Zaghloul was listed among the region’s top CEOs.
The group is also building global partnerships. For example, in May 2025, NMDC signed a deal with Jiangsu Juxin Petroleum Steel Pipe to explore new fabrication ventures in the UAE.
NMDC Energy in Saudi Arabia
Saudi Arabia is now a major focus for NMDC Energy, the group’s energy arm. In early 2025, it opened a huge fabrication yard in Ras Al Khair, with a capacity of 40,000 tonnes per year. This supports Saudi Arabia’s local industry goals under the iktva program. Over the last five years, NMDC has invested more than $1.3 billion in the Saudi economy.
The company also extended its long-term contract with Saudi Aramco and signed an MoU with Shanghai Hilong Shine New Materials for future projects in Saudi Arabia and the UAE.
At home, NMDC Energy is also upgrading its facilities in Abu Dhabi, including a $54 million yard upgrade and an expansion that doubled its pipe-coating capacity. In 2024, NMDC Energy went public, raising $877 million in an IPO that was oversubscribed more than 30 times. By mid-2025, the company’s net profit had risen 16% year-on-year to $158.8 million, with revenues jumping 41% to $2.2 billion.
Expanding Globally
NMDC is also winning projects outside the Gulf. In Taiwan, it secured a $1.1 billion contract for subsea pipelines and dredging work for a power plant renewal project. It is also working with partners in China and the UAE to strengthen pipeline production and local manufacturing.
Through its logistics arm, NMDC LTS, the company has signed deals with Chinese manufacturers to develop production facilities in the UAE, including new ventures with valve and equipment makers.
Focus on Safety and Technology
NMDC is also investing in safety and innovation. It uses digital twins for modeling, remotely operated vehicles for underwater inspections, and VR tools to train staff. Its marine division uses simulators for dredging training, while NMDC Energy has added advanced safety systems, including 360-degree cameras and smart dashboards.
The Bigger Picture
NMDC has transformed from a marine contractor into a diversified industrial group. By expanding strongly in Saudi Arabia, forming partnerships with Asian companies, and investing in safety and technology, it is positioning itself for long-term growth in the global energy and infrastructure sectors.
Published: 18th August 2025
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