Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) has signed a contract with the Pasay Harbor City Corporation (PHCC) to undertake large-scale dredging and land reclamation activities in Manila Bay, Philippines.

The deal, valued at $610.10 million, will enable the ADX-listed group to undertake a thirty-month project encompassing approximately 130 hectares of island reclamation, according to a recent press release.

It is part of its groundbreaking development project to build a new eco-friendly, waterfront city.

The partnership covers sand supply, dredging and reclamation, vertical drains installation, vibro compaction, and rock placement.

Yasser Zaghloul, Group CEO of NMDC Group, commented: “By entering the dynamic Philippines market, NMDC Group continues to expand its operational presence in Southeast Asia as part of its strategic push towards diversified, global growth.”

The collaboration closely follows a series of announcements by NMDC Group and marks its first large-scale project in the Philippines, adding to its growing project portfolio of activities in Asia, which have included several projects across Taiwan, Vietnam, and Malaysia.

In the first half (H1) of 2025, NMDC achieved 20% higher net profits at AED 1.75 billion, versus AED 1.46 billion in H1-24.