Riyadh – Sharikat Mubasher: NMDC Energy signed a memorandum of understanding (MoU) with Shanghai Hilong Shine New Materials Company Limited to explore the creation of a joint venture in the UAE and Saudi Arabia.

The agreement was formalized during the "Make it in the Emirates" forum in Abu Dhabi, underscoring a growing trend of international industrial partnerships in the region, as per a recent press release.

The proposed joint venture would focus on developing advanced anti-corrosion coating technologies, with applications primarily in the energy and industrial sectors. Hilong, headquartered in China, is known for its expertise in high-end coating solutions and heavy-duty protective materials for extreme environments.

Ahmed Al Dhaheri, CEO of NMDC Energy, said the collaboration aims to address the region’s pressing need for durable infrastructure solutions. “The UAE’s environment requires robust protection strategies for metals and materials, especially in the energy sector. This partnership highlights the UAE and the broader region’s appeal as a competitive, dynamic destination for global industrial players,” he added.

The announcement comes as NMDC Energy reported strong financial performance, with Q1 2025 net profits rising to AED 217 million, compared to AED 173.96 million in the same period last year. The company continues to expand its footprint in regional and international markets as part of its long-term growth strategy.

If approved, the joint venture would further bolster industrial capabilities in both the UAE and Saudi Arabia, aligning with broader economic diversification and localization goals across the Gulf.