National Marine Dredging Company (The Group) has signed a Memorandum of Understanding with Daewoo Engineering & Construction to mutually explore and grow business opportunities across the Middle East and Africa. The MoU was signed by Eng. Yasser Zaghloul, Group CEO, NMDC, and Mr. Ilyoung Choi, Senior Vice President, Daewoo Engineering & Construction.

Through the MoU, the two entities will jointly explore onshore and offshore engineering, procurement and construction projects. They will also focus on marine, dredging and reclamation projects in addition to identifying opportunities in industries such as energy, port development and urban development projects. NMDC and Daewoo aim to work on a project-to-project basis, across specified geographical areas of operation, through joint ventures, or a mutual understanding between the two entities for securing fresh business opportunities.