NMDC consortium gets $1.5b project in Egypt

Dubai: Abu Dhabi-listed National Marine Dredging Company (NMDC) said on Sunday it has been awarded the $1.5 billion (Dh5.5 billion) project in Egypt along with a consortium.

The Suez canal expansion project is with a consortium of Van Oord, Boskalis and Jan de Nul. Shares of NMDC rose 14.93 per cent following the announcement in a firm Dubai market.

NMDC is one of the leading companies providing dredging, reclamation, and marine construction work in the Middle East.