NMDC Energy has signed a memorandum of understanding (MoU) with Shanghai Hilong Shine New Materials Company Limited to form a joint venture (JV) in the UAE and Saudi Arabia. The agreement was finalized during the Make it in Emirates forum held in Abu Dhabi, according to an official press release.
Ahmed Al Dhaheri, CEO of NMDC Energy, emphasised the importance of strong protection strategies in the metals and materials sector, particularly for assets operating in the energy industry. He said,
“The UAE’s environment requires robust protection strategies for metals and materials – and this is especially the case for assets operating in the energy sector.”
Al Dhaheri also highlighted the significance of the partnership, stating,
“This collaboration highlights the strong competitiveness and dynamism of the UAE and the wider region’s industrial and energy sectors. These sectors continue to attract international players eager to invest and grow their businesses here.”
Shanghai Hilong Shine, headquartered in China, is a leader in research, development, and manufacturing of high-end coatings and new materials. The company specialises in industrial heavy-duty anti-corrosion solutions, making it a key partner for NMDC Energy’s regional expansion.
In addition to this strategic move, NMDC Energy reported strong financial results for the first quarter of 2025. The company posted net profits of AED 217 million, marking an increase from AED 173.96 million in Q1 2024.
