NMDC LTS concludes acquisition of 70% equity stake in Emdad
4 June 2025 20:03
ABU DHABI (ALETIHAD)The NMDC Group has announced that its wholly owned subsidiary, NMDC LTS, has completed the acquisition of a 70% stake — comprising both share capital and voting rights — in Emdad, an integrated service provider operating across the oil and gas, utilities, and industrial sectors. The transaction was financed through a combination of debt and equity.This strategic acquisition allows NMDC Group to expand into the operational expenditure (OPEX) segment of oilfield services, enabling the company to diversify its portfolio further and strengthen its competitive position. Emdad brings a broad suite of services including well intervention, waste management, shutdown and turnaround services, coiled tubing, and valve solutions. In 2024, Emdad reported revenues exceeding Dh600 million, with total equity standing at Dh217 million.Eng. Yasser Zaghloul, CEO of NMDC Group, said: 'We are pleased to complete this landmark acquisition, which signals the beginning of an exciting new chapter for both organisations. Emdad is a distinguished industry leader with strong capabilities and deep sector knowledge. By combining Emdad's strengths with NMDC's scale and focus on innovation, we are creating a powerful platform for long-term value creation. This integration aligns with our diversification strategy and enhances our ability to deliver broader service offerings, create meaningful value, and drive sustainable growth for our clients, partners, and stakeholders across the region's dynamic energy landscape.'Mohammed Juma Al Bawardi, CEO of Emdad, added: 'This milestone transaction underscores both the maturity and appeal of the UAE's energy sector, as well as the trust NMDC places in Emdad's market position. As we join forces through this compelling partnership and integrate with the broader NMDC platform, we are confident of embarking on a new phase of growth. Together, we will unlock deeper value for our customers and work towards our shared vision for sustainable success.'
This transaction marks a further step in NMDC's strategy to create long-term value, strengthen its regional presence, and drive revenue growth. It reflects NMDC Group's broader ambitions for expansion and diversification, paving the way for future innovation and industry leadership in the energy sector.
Source: Aletihad - Abu Dhabi
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
3 days ago
- Al Etihad
Mohammed bin Rashid: UAE among top 7 global destinations for international tourist spending
26 June 2025 18:36 DUBAI (WAM) A recent report by the World Travel and Tourism Council (WTTC) revealed that the UAE's travel and tourism sector delivered an exceptional performance in sector contributed Dh257.3 billion ($70.1 billion) to the national GDP, accounting for 13% of the economy. This marks a 3.2% increase from 2023 and a remarkable 26% growth compared to 2019, one of the highest growth rates globally and regionally in terms of tourism's contribution to economic Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, praised the sector's achievements, stating, 'In a new indicator of the strength and diversity of our national economy, the WTTC report highlights the exceptional achievements of the UAE tourism sector. International visitor spending exceeded Dh217 billion last year, with domestic tourism expenditure reaching Dh57 billion. The UAE ranks among the world's top seven destinations for international tourist spending, surpassing countries that have been in this industry for centuries.'He added, 'We welcome tourists, delight in attracting investors, embrace talent, and build the best environment for living, tourism, and visitation. Welcome to the world.'Abdulla bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the Emirates Tourism Council, emphasised that the UAE has placed tourism at the heart of its strategy to drive economic diversification and sustainable growth. He credited the nation's success to proactive initiatives and strategic tourism plans that have positioned the UAE as a unique and attractive global efforts include strengthening infrastructure across the seven emirates, enhancing the appeal of tourism-related investments, and showcasing the country's rich cultural and experiential diversity. Significant improvements in airport and travel infrastructure have also contributed to the country's elevated standing in global travel and Marri also noted, 'Just days ago, the UAE achieved a historic milestone in the tourism sector with the election of Shaikha Nasser Al Nowais, Secretary-General of the United Nations World Tourism Organisation (UNWTO). Today's WTTC results reaffirm the wisdom of our leadership's vision in enhancing the competitiveness of our tourism sector, creating employment opportunities for Emiratis, and further cementing our position as a global tourism powerhouse.''These achievements underscore that the UAE tourism sector is confidently progressing toward the goals set out in the UAE Tourism Strategy 2031. The strategy aims to increase the sector's contribution to the national GDP to Dh450 billion and raise the number of hotel guests to 40 million annually by the next decade.'He noted that national efforts are ongoing to develop a fully integrated tourism ecosystem, guided by international best practices. These efforts include strengthening engagement with key regional and international tourism markets, expanding the range of tourism offerings, and enhancing service quality to provide comprehensive and enriching experiences for visitors from around the world.'These initiatives are in line with the UAE vision We the UAE 2031, and they aim to elevate the country's status as one of the world's leading tourism destinations in the coming decade,' he international tourism, the WTTC report highlighted that the UAE continues to assert its position as one of the world's leading travel destinations. In 2024, the country welcomed international visitors from a diverse range of key markets, including India: 14%, United Kingdom: 8%, Russia: 8%, China: 5%, Saudi Arabia: 5%, and rest of the world: 60%.This broad geographical distribution reflects the UAE's growing global appeal and the effectiveness of its flexible and inclusive tourism policies in attracting a wide array of report further revealed that international visitor spending in the UAE reached Dh217.3 billion ($59.2 billion) in 2024, marking a 5.8% increase from 2023 and a 30.4% rise compared to pre-pandemic levels in domestic tourism spending also witnessed strong growth, reaching Dh57.6 billion ($15.7 billion) in 2024, an increase of 2.4% over 2023 and a remarkable 41% rise compared to figures underscore both the resilience and upward momentum of the UAE's tourism sector across international and domestic fronts, further solidifying its position as a premier global WTTC report projects that international visitor spending in the UAE will rise by 5.2% in 2025, reaching approximately Dh228.5 billion. Meanwhile, domestic tourism spending is expected to grow by 4.3%, hitting Dh60 billion by the end of the report also highlighted that leisure tourism accounted for 84.7% of total tourism expenditure in the UAE in 2024, while business tourism represented 15.3%. This demonstrates the sector's adaptability and its ability to balance both recreational and commercial tourism the breakdown of spending showed that 79% of total tourism expenditure came from international visitors, while 21% was attributed to domestic report further emphasised that despite the UAE's rapid tourism sector growth, the country has remained firmly committed to environmental standards and sustainability goals. In 2023, carbon emissions linked to tourism activities accounted for only 13.3% of the nation's total emissions, reflecting the UAE's strategic focus on integrating sustainability across its tourism performance aligns with the UAE's broader vision to promote sustainable practices across all sectors — ensuring that tourism growth goes hand-in-hand with environmental responsibility and long-term ecological the social front, the report highlighted that women accounted for 16.3% of the direct workforce in the UAE's travel and tourism sector in 2023. Additionally, youth aged 15–24 years made up 9.7% of the total employment in the sector, reflecting its growing role in empowering both women and younger generations within the national labour a fiscal perspective, the tourism and travel sector generated $8.6 billion in tax revenues in 2023, representing 5.4% of total government revenues. This underscores the sector's increasing financial significance and its vital contribution to the country's public the global level, the report stated that the travel and tourism sector contributed $10.9 trillion to the global GDP in 2024, representing 10% of the world economy. This reflects an 8.5% increase compared to 2023 and a 6% rise compared ahead, the sector's contribution is projected to reach $11.7 trillion in 2025, which would mark a 6.7% increase over 2024 and a 13% growth over 2019, underscoring the sustained recovery and expansion of global tourism. The report also highlighted the sector's robust role in job creation, with 356.6 million jobs generated worldwide in 2024, accounting for 10.6% of total global employment. This represents a 6.2% increase from 2023 and a 5.6% increase from 2019.
Al Etihad
04-06-2025
- Al Etihad
NMDC LTS concludes acquisition of 70% equity stake in Emdad
4 June 2025 20:03 ABU DHABI (ALETIHAD)The NMDC Group has announced that its wholly owned subsidiary, NMDC LTS, has completed the acquisition of a 70% stake — comprising both share capital and voting rights — in Emdad, an integrated service provider operating across the oil and gas, utilities, and industrial sectors. The transaction was financed through a combination of debt and strategic acquisition allows NMDC Group to expand into the operational expenditure (OPEX) segment of oilfield services, enabling the company to diversify its portfolio further and strengthen its competitive position. Emdad brings a broad suite of services including well intervention, waste management, shutdown and turnaround services, coiled tubing, and valve solutions. In 2024, Emdad reported revenues exceeding Dh600 million, with total equity standing at Dh217 Yasser Zaghloul, CEO of NMDC Group, said: 'We are pleased to complete this landmark acquisition, which signals the beginning of an exciting new chapter for both organisations. Emdad is a distinguished industry leader with strong capabilities and deep sector knowledge. By combining Emdad's strengths with NMDC's scale and focus on innovation, we are creating a powerful platform for long-term value creation. This integration aligns with our diversification strategy and enhances our ability to deliver broader service offerings, create meaningful value, and drive sustainable growth for our clients, partners, and stakeholders across the region's dynamic energy landscape.'Mohammed Juma Al Bawardi, CEO of Emdad, added: 'This milestone transaction underscores both the maturity and appeal of the UAE's energy sector, as well as the trust NMDC places in Emdad's market position. As we join forces through this compelling partnership and integrate with the broader NMDC platform, we are confident of embarking on a new phase of growth. Together, we will unlock deeper value for our customers and work towards our shared vision for sustainable success.' This transaction marks a further step in NMDC's strategy to create long-term value, strengthen its regional presence, and drive revenue growth. It reflects NMDC Group's broader ambitions for expansion and diversification, paving the way for future innovation and industry leadership in the energy sector. Source: Aletihad - Abu Dhabi
Khaleej Times
04-06-2025
- Khaleej Times
NMDC LTS concludes acquisition of 70% equity stake in Emdad
NMDC LTS, a wholly owned subsidiary of the NMDC Group, has completed the acquisition of a 70 per cent stake of the share capital and voting rights in Emdad, an integrated service provider specialising in the oil and gas, utilities, and industrial sectors. The transaction was financed through debt and equity. This acquisition enables NMDC Group to expand into the OPEX segment of recurring revenues in the oilfield services, further diversifying its portfolio and strengthening its competitive advantage. In parallel, this acquisition will provide NMDC Group with a broader range of services and additional avenues for revenue growth, with Emdad's offering spanning over an array of different services, including well intervention, waste management, shutdown/ turnaround, coil tubing, valves, among other services. Emdad reported revenues in excess of Dh600 million in 2024 and its equity stood at Dh217 million. Eng. Yasser Zaghloul, CEO of NMDC Group, commented: 'We are happy to complete this landmark acquisition which marks the beginning of an exciting new chapter for both organizations. Emdad stands out as an industry leader with robust capabilities and deep sector expertise. By combining its strengths with NMDC's scale and commitment to innovation, we now have a powerful platform to unlock long-term value. With diversification at its core, this integration enhances our ability to deliver broader service offerings, create greater value, and drive sustainable growth for our clients, partners, and stakeholders across the dynamic energy landscape.' Mohammed Juma Al Bawardi, CEO of Emdad, commented: 'This milestone transaction underscores the sophistication and attractiveness of the UAE's energy sector as well as the trust that NMDC has in Emdad's position as a leading service provider in the market. We are confident that through this compelling partnership, where we are now plugged into the wider NMDC platform, we will be able to chart an exciting new journey of growth. Ultimately, this collaboration will unlock deeper value for our customers and help us to achieve our shared goals for sustainable success.' The update is another further step in NMDC's strategy to drive value creation, strengthen its regional presence, and support revenue growth. It marks a leap in NMDC Group's broader expansion and diversification goals, paving the way for future innovation and leadership in the energy sector.
