ABU DHABI / WAM
Hussein Al Nowais, Chairman of National Petroleum Construction Company (NPCC), a subsidiary of the Senaat Abu Dhabi, announced the company achieved a profit of AED700 million in 2017, an increase of 57% that the previous year, despite impact of low oil prices. Its revenues increased 21% to AED5.7 billion, an indicator of comp- any’s topline performance.
He added that in last decade company has achieved good financial results and sustained growth, because of the confidence of its clients from Arabian Gulf and India. These financial indicators are the proof of NPCC’s EPC capabilities and performance. He said the company has grown in last decade and its total profit for 10 years are AED 8 billion and revenues for the same period are AED 48 billion.
Aqeel A. Madhi, Vice Chairman and MD, said that NPCC has contributed significantly in the development of the oil and gas industry in gulf region. It has executed over 1,250 EPC projects, laid over 5,800kms of pipelines and cables, built and installed over 1,250 structures to world-class standards.