NMDC awarded Taiwan EPC contract

NMDC Energy is expanding its presence in the Asian market with the award of a US$1.136bn EPC contract by Taiwan Power Company (Taipower) for the Tung-Hsiao Power Plant 2nd Stage Renewable Project

Valued at US$1.136bn, the project involves the design, construction and installation of 111 km of linear subsea pipeline at depths ranging from 10 metres to 55 metres, stretching between Taichung and Tung-Hsiao on Taiwan's west coast. The contract involves shore approach works and dredging operations volume of around 6mn cubic metres. The work will be led by NMDC Energy, utilising the capabilities of NMDC Dredging & Marine.

As part of its commitment to expanding into high-growth regions and becoming a global leader in ten energy and marine engineering sectors, NMDC Energy is keen to strengthen its presence in Taiwan, which it sees as a strategic market with significant potential, and where it is already progressing renewable energy initiatives. By leveraging its multidisciplinary expertise and forging partnerships in the region, NMDC Energy is looking to explore new opportunities for sustainable growth.

Landmark contract

Eng. Yasser Zaghloul, CEO of NMDC Group said, “This landmark contract underscores NMDC Energy’s position as a global leader in engineering and marine solutions, while driving forward Taiwan’s energy transition ambitions. Our work in Taiwan is not merely about infrastructure; it represents a commitment to creating sustainable pathways for energy resilience in a region of strategic importance. This award reaffirms our dedication to delivering world-class expertise across diverse geographies and demonstrates how NMDC Group’s integrated capabilities set the benchmark for transformative, high-impact projects worldwide.”

Eng. Ahmed Salem Al Dhaheri, CEO of NMDC Energy, added, “Over the past three years, we have boldly expanded our operations into renewable energy in Taiwan, forging transformative partnerships to unlock opportunities for various clean energy integration. Our collaboration with the Taiwan Power Company will drive and strengthen our presence in Taiwan and South East Asia.”

The award highlights NMDC’s expertise in delivering complex energy EPC and marine engineering projects while reinforcing its strategy to expand its operations geographically into high-potential markets. It is expected to significantly boost revenue while strenghthening NMDC’s leadership in sustainable energy solutions.

NMDC is currently experiencing strong growth and global expansion after rebranding and restructuring its operations. In September 2024, NMDC Energy was listed on the Abu Dhabi Stock Exchange, following the launch of its IPO which was 31.3 times oversubscribed, generating AED 3.22bn (US$880mn) for the Group. For the nine-month period ending 30 September 2024, the Group reported an impressive 68% growth in revenues and a 45% surge in net profits compared to the same period last year.

The strong performance for this period was underpinned by a healthy project pipeline, strategic operational expansion across the Group’s divisions, as well as NMDC Energy’s successful Initial Public Offering (IPO), according to the company.