“MAESTRAL and Fincantieri Forge $500 Million Alliance to Enhance UAE Navy Operations”
EDGE, a prominent leader in advanced technology and defense sectors worldwide, alongside Fincantieri, a top-tier group in the realm of high-complexity shipbuilding, revealed today that MAESTRAL, their shipbuilding joint venture situated in Abu Dhabi, is set to receive a major ‘In-Service Support Strategic Partnership Project’ to serve the entire fleet of the UAE Navy, courtesy of Tawazun Council. Tawazun Council, an autonomous governmental body, collaborates closely with the Ministry of Defence and security organizations in the United Arab Emirates. The estimated worth of this agreement is around 500 million euros spread over five years.
The announcement regarding the contract approval was attended by Mr. Hamad Al Marar, Managing Director & CEO of EDGE Group; Mr. Rodrigo Torres, CFO of EDGE Group; Mr. Biagio Mazzotta, Chairman of Fincantieri; Mr. Pierroberto Folgiero, CEO and Managing Director of Fincantieri; and Mr. Dario Deste, General Manager of the Naval Vessels Division at Fincantieri.
MAESTRAL will act as the Industrial Strategic Partner, managing extensive maintenance oversight of the UAE Navy to fulfill essential operational and logistic requirements while aiding the UAE Navy’s transformation towards enhanced levels of performance throughout the next five years.
Hamad Al Marar, Managing Director & CEO of EDGE Group, remarked: “This contract award highlights the confidence placed in MAESTRAL’s advanced abilities by our significant client and key stakeholders globally. Together with Fincantieri, we are entirely assured that these capabilities will generate valuable prospects from which this unique joint venture can leverage its extensive resources and wealth of experience to provide superior maritime vessels, comprehensive solutions, and lifecycle maintenance services, ensuring commercial success for all involved partners.”
Pierroberto Folgiero, Fincantieri’s CEO and Managing Director, expressed: “This contract represents a crucial milestone in Fincantieri’s expansion within the region and reinforces our enduring commitment to nurturing industrial partnerships that yield excellence. It also reflects the mutual vision and synergy between Fincantieri and EDGE through the MAESTRAL joint venture. We are honored to stand with the UAE Navy as a reliable partner, guaranteeing ongoing support, state-of-the-art technology, and exceptional maintenance services that satisfy the evolving demands of contemporary naval operations.”
The ISS Strategic Partnership Project will foster a close synergy between Fincantieri and the EDGE Group entity, Abu Dhabi Shipbuilding (ADSB), within the MAESTRAL joint venture. This distinctive joint proposal will harness the collective strengths of UAE national and international advanced shipyards, deploying a comprehensive array of technical, engineering, and management expertise to elevate the quality and performance of the UAE Navy.
The MAESTRAL joint venture, initially announced in May 2024, aims to seize global opportunities for the commercialization, design, and production of advanced naval vessels and services.
