Rinu Varghese

National Marine Dredging Company

National Marine Dredging Company (NMDC) was established in 1976 as a dredging division of Abu Dhabi National Oil Company (ADNOC). An "emiri" decision was taken to form an autonomous dredging company reporting to its own Board of Directors. NMDC was thus founded and commenced trading in 1979. We are a National Company in Abu Dhabi the capital of U.A.E, registered as a public company trading in the Abu Dhabi stock exchange, with a registered paid up capital value of AED 250,000,000 (U.A.E Dirhams Two Hundred Fifty Million Only). The Government of Abu Dhabi owns 32% of the company, Abu Dhabi United Group for Development and Investment owns 20%, Al Khazna Insurance Co. owns 7.11%, and the public shareholding is 40.89%. (Public shareholders consist of U.A.E citizens and foreigners; with maximum threshold of 5% reserved for foreigners).