NMDC Energy to expand business in UAE, Saudi Arabia via joint deal
Abu Dhabi: NMDC Energy has signed a memorandum of understanding (MoU) to explore collaboration with Shanghai Hilong Shine New Materials Company Limited to establish a joint venture (JV) in the UAE and Saudi Arabia.
The two sides inked the agreement during the Make it in Emirates forum in Abu Dhabi, according to a press release.
Ahmed Al Dhaheri, CEO of NMDC Energy, commented: 'The UAE's environment requires robust protection strategies for metals and materials – and this is especially the case for assets operating in the energy sector.'
'This collaboration highlights the strong competitiveness and dynamism of the UAE and the wider region's industrial and energy sectors, which are a magnet for international players who seek to do business here,' Al Dhaheri stated.
Headquartered in China, Hilong is a leading company committed to research and development as well as manufacturing related to high-end coating and new materials for industrial heavy-duty anti corrosion.
In the first quarter (Q1) of 2025, NMDC Energy posted higher net profits at AED 217 million, compared to AED 173.96 million in Q1-24.
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