NPCC announces $500 million investment

Published Date : 10, Jul 2012

This covers upgrading our offshore marine fleet, increasing yards capacity, augmenting equipment facilities, and in addition, expanding our engineering capabilities'

Abu Dhabi-based National Petroleum Construction Company (NPCC) is upgrading its capabilities through an investment of more than $500 million, chief executive officer Aqeel Madhi has said.

"This covers upgrading our offshore marine fleet, increasing yards capacity, augmenting equipment facilities, and in addition, expanding our engineering capabilities," Madhi said during a recent company event in the capital pertaining to health, safety and environment.

Madhi told reporters the total investment towards upgrade is planned over the next 2-3 years.

"NPCC's 5-year business plan is being formulated. We have set ourselves an ambitious expansion plan in terms of volume, growth and geographical reach, scouting for opportunities in Southeast Asia, Caspian Sea and West Africa," Madhi added.

He said NPCC is targeting Dh5 billion in revenue this year, up from Dh4.2 billion in 2011.