NPCC management directed to improve performance, profitability of the company

He has also directed the company to hire competent local as well as expatriate professionals and prepare itself to face up with international companies for engineering, procurement and construction (EPC) jobs in the international market.

As part of the initiatives and the excellent development work within the UAE in general and Abu Dhabi in particular, the dreams of the late father of the nation Shaikh Zayed bin Sultan Al Nahyan and to fulfill his aspirations, His Highness Shaikh Khalifa bin Zayed Al Nahyan, the President of the UAE and Ruler of Abu Dhabi has issued a decree No. 9 of 2004.

The decree allows the transfer of ownership of 70 per cent shares of NPCC held by ADNOC to recently established General Holding Corporation (GHC) clearing the way for a new corporate set-up. The GHC headed by Shaikh Hamed bin Zayed Al Nahyan, Chairman Abu Dhabi Economic Department will later sell-off the shares of the NPCC to general public.

Shaikh Hamed bin Zayed Al Nahyan, Chairman Abu Dhabi Economic Department recently issued a resolution for reconstituting NPCC's Board of Directors. Three prominent UAE business tycoons — Nasser bin Ahmed Al Suwaidi, Chairman of the Board, Hussain Jassim Al-Nowais and Mohammed Nasser Al-Kheili have been nominated to the Board.

The General Managers of three ADNOC Group companies have also been nominated to the new Board, they included GMs of ZADCO, ADGAS, ADMA-OPCO.

Tawfic Said Khoury, Munir Elias Khoury and Farid Bishara Asfour would represent the Consolidated Contractors Company (CCC), which owns 30 per cent shares.

In its first meeting, the BoD appreciated the success of the company over the years and also appreciated the role and services of the previous Chairman, BoD and the Board's Advisory Committee members for their support and cooperation extended by the ADNOC Group of Companies.

The BoD formed an executive committee to support the management for new business development to yield best financial results through enhancing efficiency and performance according to the directives of Shaikh Hamed bin Zayed Al Nahyan.

NPCC has emerged as a major EPC contractor regionally for the onshore and offshore oil, gas and petrochemicals industry with fully equipped modern yard for steel structures fabrication, topsides, jackets, corrosion coating of line pipes. The company has also ventured into manufacturing pressure vessels, storage tanks & spheres and has an extensive marine fleet for offshore transportation, installation of structures and sub-sea pipelaying.