UAE’s NPCC, Aramco in talks to implement new projects later – CEO

Abu Dhabi – Mubasher: The UAE-based, National Petroleum Construction Company (NPCC) is holding discussions with the Saudi Arabian Oil Co, known internationally as Saudi Aramco to implement projects in the coming period, said the CEO, Aqeel Madhi.

NPCC is implementing projects in the current period with a cost of AED 3 billion, and it is expected to win some projects in the coming period, Madhi added, according to the firm’s statement.

The CEO noted that NPCC plans to enhance its position in the GCC region and in Indian market, in addition to investing in new markets namely: Malaysia, East Asian countries, South Africa, Egypt, and Algeria.

Madhi forecasted that the company will achieve returns at a value of AED 5.7 billion during 2017, compared to AED 4.6 billion in the year earlier.

NPCC was established in April 1973, and it is owned by Abu Dhabi Government.

Saudi Aramco previously awarded NPCC an AED 1.2 billion engineering, procurement, and construction agreement to establish offshore platforms and two pipelines in Al Safaniya oil field.

Mubasher Contribution Time: 15-Nov-2017 06:39 (GMT)
Mubasher Last Update Time: 15-Nov-2017 06:39 (GMT)

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