Abu Dhabi – Mubasher: NMDC LTS, a wholly owned subsidiary of National Marine Dredging Company (NMDC), acquired a 70% stake of the share capital and voting rights in Emdad, according to a press release
This move aligns with NMDC’s strategy to drive value creation, foster its regional presence, and support revenue growth.
Financed through debt and equity, the transaction will enable the ADX-listed group to expand into the OPEX segment of recurring revenues in the oilfield services, further diversifying its portfolio and boosting its competitive advantage.
This acquisition will allow the group to access a wide range of services and additional avenues for revenue growth, with Emdad’s offering spanning well intervention, waste management, shutdown/ turnaround, coil tubing, valves, among other services.
Yasser Zaghloul, CEO of NMDC Group, said: "By combining its strengths with NMDC’s scale and commitment to innovation, we now have a powerful platform to unlock long-term value.”
“With diversification at its core, this integration enhances our ability to deliver broader service offerings, create greater value, and drive sustainable growth for our clients, partners, and stakeholders across the dynamic energy landscape,” Zaghloul added.
Mohammed Juma Al Bawardi, CEO of Emdad, commented: “We are confident that through this compelling partnership, where we are now plugged into the wider NMDC platform, we will be able to chart an exciting new journey of growth. Ultimately, this collaboration will unlock deeper value for our customers and help us to achieve our shared goals for sustainable success.”
In 2024, Emdad generated revenues in excess of AED 600 million, and its equity stood at AED 217 million.
As of 31 March 2025, NMDC recorded 22% year-on-year (YoY) higher net profit at AED 784 million, compared to AED 641 million.
