NMDC LTS Expands into Oilfield Services with 70% Emdad Acquisition

NMDC LTS, a subsidiary of NMDC Group, has inked a definitive agreement to acquire a 70% stake in Emdad, a service provider in the oil and gas, utilities, and industrial sectors. This acquisition, subject to regulatory approval, aligns with NMDC's strategy to enhance its service offerings and diversify its portfolio, particularly in oilfield services. The move is anticipated to bolster NMDC's presence in the energy sector by bridging Emdad's expertise with NMDC's established operations in engineering and construction services. The deal follows NMDC Energy PJSC's successful and oversubscribed IPO on ADX, indicating strong market trust in NMDC's strategic execution. The acquisition also highlights the favorable economic climate in the oil and gas industry in the Middle East. Emdad, known for its robust revenue growth and balanced financials, holds a prominent position in the energy sector, supported by its enduring relationships with key players like ADNOC and Borouge. NMDC aims to leverage this acquisition to broaden its service capabilities, maximize client value, and sustain growth. Both parties highlight the importance of this partnership towards a diversified and sustainable energy future.