NMDC Energy Secures $1.136 Billion EPC Contract for Taiwan Subsea Gas Pipeline Project

NMDC Energy PJSC (ADX: NMDCENR), a subsidiary of NMDC Group PJSC (ADX: NMDC), has been awarded a $1.136 billion engineering, procurement, and construction (EPC) contract by Taiwan Power Company (Taipower). The contract encompasses pipeline installation, shore approach works, and dredging for the Tung-Hsiao Power Plant 2nd Stage Renewal Project.

This landmark project involves designing, constructing, and installing 111 kilometers of subsea pipeline at depths ranging from 10 to 55 meters, connecting Taichung to Tung-Hsiao on Taiwan's west coast. NMDC Energy will lead the operation with contributions from NMDC Dredging & Marine, highlighting the group's multidisciplinary expertise.

Strategic Expansion in High-Growth Markets
The project reinforces NMDC Energy's strategy to expand into high-growth regions, with Taiwan seen as a strategic market with significant potential. This contract strengthens NMDC’s presence in the Asian energy sector and aligns with its vision of becoming a global leader in energy and marine engineering.

Eng. Yasser Zaghloul, CEO of NMDC Group, remarked:
"This landmark contract underscores NMDC Energy’s global leadership in engineering and marine solutions while advancing Taiwan’s energy transition ambitions. This project is a testament to our dedication to delivering transformative, high-impact solutions across diverse geographies."

Eng. Ahmed Salem Al Dhaheri, CEO of NMDC Energy, added:
"Over the past three years, we have expanded into renewable energy in Taiwan, forging transformative partnerships to unlock clean energy opportunities. Our collaboration with Taiwan Power Company enhances our footprint in Taiwan and Southeast Asia."

Boosting Taiwan’s Energy Transition
The Tung-Hsiao Power Plant 2nd Stage Renewal Project is a vital component in Taiwan's shift toward cleaner energy sources. By enabling the delivery of natural gas with an annual capacity of 2.3 million tonnes, the project will meet increasing energy demand while enhancing energy security.

Sustainable Growth and Innovation
With a proven track record in delivering complex energy and marine engineering projects, NMDC Group is poised to further solidify its leadership in sustainable energy solutions. The company's involvement in Taiwan is expected to bolster revenues and establish its position in the renewable energy sector.