NMDC LTS, a business vertical of NMDC Group, a global leader in engineering, procurement, construction (EPC), and marine dredging services, has announced the signing of an MoU to explore the establishment of a joint venture with Jiangsu Huaying Valves Company at the Make it in the Emirates forum.
As per the deal, the duo will aim to set up a key facility in the UAE for assembling, fabrication and distribution of valves to be used in the energy sector, said the company in a statement.
Headquartered in China, Jiangsu Huaying, is a leading manufacturer and supplier specializing in the design, production, and distribution of valves and related components for oil & gas, petrochemicals, power generation, and other industrial applications.
NMDC LTS, established to focus on the logistics and technical services sectors under the NMDC Group, will leverage its relationships with key players in the energy sector and tap into its regional capabilities to ensure the success of the collaboration, it stated.
"With more than 40 years of NMDC Group’s experience and expertise in the region, NMDC LTS is leveraging the global attractiveness of the UAE’s industrial and energy sectors for international partners," remarked Peter Marvin, Chief Technical & Resource Pool Officer.
"We are also showing the true power of collaboration, where both NMDC LTS and Jiangsu Huaying will apply joint expertise at scale to ensure the development of solutions that are both locally and globally sought after in the energy sector and adjacent industries," he stated.
More broadly, the partnership forms part of the MIITE mandate to drive industrial growth in the UAE.
At MIITE, NMDC Group is showing how its work serves as a catalyst in propelling the development of Abu Dhabi and how the Group bolsters the UAE’s efforts to further shape its modern landscape and stimulate the local economy, said the statement.
The Group is announcing several strategic partnerships, and will also provide updates on its projects, particularly its work internationally where the Group has an active pipeline of activities in Saudi Arabia, Oman, Taiwan, and Vietnam, alongside its work in the UAE, it added.-TradeArabia News Service
