EDGE-Fincantieri Joint Venture Secures €500 Million UAE Navy Support Contract
In a significant development within the defense and maritime sectors, EDGE, a major global player in advanced technology and defense solutions, in collaboration with Fincantieri, renowned for its expertise in high-complexity shipbuilding, has recently been awarded a substantial ‘In-Service Support Strategic Partnership Project’ by the Tawazun Council. This strategic contract, valued at approximately €500 million, is set to enhance the operational capabilities of the United Arab Emirates (UAE) Navy over the next five years.
The announcement was made in Abu Dhabi and attended by key figures in both organizations. Hamad Al Marar, the Managing Director and CEO of EDGE Group, expressed pride in the trust that major stakeholders globally have placed in the capabilities of MAESTRAL, the joint venture established by EDGE and Fincantieri. Alongside him were Rodrigo Torres, CFO of EDGE Group; Biagio Mazzotta, Chairman of Fincantieri; Pierroberto Folgiero, CEO and Managing Director of Fincantieri, as well as Dario Deste, General Manager of the Naval Vessels Division of Fincantieri.
Tawazun Council operates as an independent government entity that collaborates closely with the Ministry of Defence and other security agencies in the UAE. The initiation of the ISS Strategic Partnership Project signifies a more profound commitment to enhancing the operational readiness and logistical frameworks of the UAE Navy.
The role of Maestral as the Industrial Strategic Partner will involve comprehensive maintenance management and support aimed at addressing the key operational and logistical needs of the UAE Navy. The joint venture is positioned to play a critical role in facilitating the navy’s transformative journey, paving the way for improved performance metrics within the modern naval landscape.
In his comments, Al Marar noted, “This contract award underscores the trust placed in MAESTRAL’s advanced capabilities by our major customer, and important stakeholders worldwide. Together with Fincantieri, we are fully confident that these capabilities will provide valuable opportunities from which this unique joint venture can utilize its vast resources and pool of experience to deliver superior maritime vessels, turnkey solutions, and lifecycle maintenance services, ultimately enabling commercial success for all partners involved.”
Folgerio added that this contract represents a crucial milestone in Fincantieri’s regional growth and reflects the shared vision between the companies involved. He stated, “This contract marks a pivotal step in Fincantieri’s growth in the region and reinforces our long-standing commitment to fostering industrial partnerships that deliver excellence. We are proud to stand alongside the UAE Navy as a trusted partner, ensuring sustained support, cutting-edge technology, and world-class maintenance services that meet the evolving needs of modern naval operations.”
The collaboration stipulated under this project represents a unique integration of resources, as Abu Dhabi Shipbuilding (ADSB) becomes involved as part of the Maestral joint venture, ensuring a synergy between local and international capabilities. This partnership is designed to leverage technical, engineering, and management expertise from advanced shipyards, aimed at enhancing both the quality and performance standards of the UAE Navy.
The Maestral joint venture, first revealed in May 2024, is strategically crafted to capitalize on global opportunities in the design, manufacturing, and commercialization of advanced naval vessels and associated services. The emphasis on innovation and local collaboration is certain to position the UAE as a competitive player in the realm of advanced naval capabilities while simultaneously fostering domestic industrial growth.
Looking forward, this partnership is poised to have far-reaching implications not only for the UAE’s defense capabilities but also for its broader economic landscape. The infusion of advanced technology and international expertise through this contract could catalyze further investments in the defense sector, stimulating local industries and contributing to the diversification of the UAE’s economy.
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