Middle East Dredging Company Q.S.C.

Middle East Dredging Company Q.S.C. (MEDCO)—formerly known as Qatar Dredging Company (QDC)—was founded in July 2004 as a private shareholding company between the Government of Qatar (10%), Qatari based United Development Company (UDC) (45.9 %), and the Belgian based Dredging and Environmental Marine Engineering- DEME (44.10 %). During this period, MEDCO has grown rapidly, securing projects worth more than 2 billion QAR both in Qatar and the Gulf region within its first year of operation.

After securing its first major project in Doha, The Pearl-Qatar, MEDCO launched dredging and reclamation works for the island in August 2004. On April 31, 2007, the overall scope of the project was completed 100%. This project called for the excavation of approximately 18 million m3 of material, reclamation of an area of approximately 4.2 million m2, around 180,000 m3 of concrete quay walls, and approximately 45 linear kilometers of rock revetment and sandy beaches.

On December 1, 2004, MEDCO as part of a consortium, was awarded the reclamation and revetment works at the New Doha International Airport. MEDCO’s share is 66.6%. Scope of work included total reclamation works of 62 million m3, 18 kilometers of revetment/shore protection, and dredging of an ornamental lagoon with 3.7 kilometers of shore protection.

Heavy investments have been made in marine equipment and MEDCO currently owns two Cutter Suction Dredging Spread and one Trailer Suction Hopper Dredger complete with auxiliary equipment, pipelines, and civil construction equipment.

MEDCO has been awarded several other major projects in the region and is currently bidding for several more.

The growth in the energy related industries, as well as of tourism and housing developments, creates a huge demand for expansion of port facilities, airports or other land reclamation schemes for residential and/or recreational purposes.

As economies in the region continue to witness rapid growth, new ports and causeways will be built and existing channels and harbors will be deepened and expanded offshore. MEDCO has already secured a key part of the market share and will also be capitalizing on Dredging-plus activities. These will involve shore protections through land reclamation and beach nourishments, specialized environmental techniques and offshore activities such as trenching and pipeline protection, specifically for the oil and gas sectors. This offers MEDCO a range of various business opportunities in 2008.

On the 6th of May 2008, MEDCO was awarded the Qatar-Bahrain Causeway contract, the most prestigious landmark joint project between the two countries. The Causeway contract is worth $3bn and calls for the design and construction of a 40-km two-lane dual carriageway motorway between Qatar and Bahrain. The road will run over a total of 18km of embankments where the sea is shallow and 22km of viaducts and bridges over deep water, including two 400-metre cable-stayed bridges over shipping channels. The Friendship Bridge will create a direct link between Qatar and Bahrain, promoting trade and travel between the two countries.

The company continues to invest in human and technical resources in order to maintain its high standards for quality, health, safety and environmental protection and security. All these factors contribute to MEDCO’s status as a leader in the dredging and reclamation business and pave the way to a successful year ahead