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The companies partner to capture opportunities in the UAE and Saudi Arabia Abu Dhabi-listed NMDC Energy and China’s Shanghai Hilong Shine New Materials Co. (Hilong) signed a memorandum of understanding to explore joint ventures for coating and materials works in the UAE and Saudi Arabia. The Chinese company manufactures products related to high-end coating and new materials for industrial heavy-duty anti corrosion, NMDC Energy said in a statement. This includes oil country tubular goods coating and materials, pipeline coating and materials, concrete weight coating, and internal pipeline inspection. NMDC Energy reported a 25 percent year-on-year increase in net profit to AED 217 million in the first quarter of 2025, thanks to a 75 percent annual surge in revenues. |
