NMDC signs MoU with India’s DCI to expand footprint
National Marine Dredging Company (The Group) has signed a MoU with the Dredging Corporation of India Limited (DCI), which is under the administrative control of the Ministry of Ports, Shipping and Waterways, to develop business opportunities.
The MoU, was signed at a virtual event, by Eng. Yasser Zaghoul, Group CEO, NMDC and Captain. S.Divakar, Chief General, DCI.
The agreement, for the two entities will embark upon projects of mutual benefit, and to share experience in their exclusive areas of specialisation on projects across India, Bangladesh, Gulf Cooperation Council Countries (GCC), Africa and other parts of the world.
The collaboration will work on a project-to-project basis, across specified geographical areas of operation, through the formation of joint ventures, or a mutual understanding between the two parties for securing fresh business opportunities.
Commenting on the MoU, Eng. Yasser Zaghloul, Group Chief Executive Officer, NMDC, said: “This agreement is a statement of intent between the NMDC and DCI that we are keen to broaden our level of collaboration. Each partner brings to the table unique strengths and experience. This, coupled with our common goal of growing our footprint, will lead to incredible opportunities that are waiting to be realised in the post-pandemic era. The agreement complements the Group’s robust plans to strengthen our capabilities and expertise and expand our operations across the region and South-East Asia.”
NMDC and DCI have also agreed on mutual participation and mutual bid submissions across the region on a project-to-project basis. They will also cooperate on projects which are subcontracted, thorough a consortium, or any other specific arrangements, by outlining their responsibilities that will be jointly agreed upon and delivered.
Both partners will provide each other with technical and other support, if required through a joint venture agreement, or any other contractual form, to enable either of them to pre-qualify for a tender process, as well as secure and execute projects during the tendering.