It is our pleasure and joy to announce that NMDC has signed an agreement with Canal Harbour and Great Projects Company (CHP), one of the Suez Canal Authorities Affiliated companies, to become shareholders in a newly incorporated Egyptian company, to be named The Challenge – Egyptian Emirates Marine Dredging Company (EEMDC). The scope of operations for the Joint Venture will be the execution of dredging and marine and civil engineering projects in the Arab Republic of Egypt. NMDC will own 49% & CHP will own 51% of the shares of EEMDC. The signing ceremony was between our CEO Mr. Yasser Zaghloul and Admiral Muhab Mamish, Chairman of the Suez Canal Authority with the attendance of the Egyptian Ambassador, our Chairman, board directors and senior management. Proudly, it has been announced that Mr. Yasser Zaghloul is appointed as the Chairman of The Challenge – Egyptian Emirates Marine Dredging Company (EEMDC).