MAESTRAL, EDGE-Fincantieri Joint Venture to be awarded EUR500 million UAE Navy Support Contract

Abu Dhabi [UAE], February 17 (ANI/WAM): EDGE, one of the world's leading advanced technology and defence groups, and Fincantieri, one of the world's leading groups in high-complexity shipbuilding, announced today that MAESTRAL, their Abu Dhabi-based shipbuilding joint venture, will be awarded a major 'In-Service Support Strategic Partnership Project' (ISS) for the entire UAE Navy fleet by Tawazun Council.

Advertisement

Tawazun Council is an independent government entity that works closely with the Ministry of Defence and security agencies in the UAE. The value of the agreement is of approximately 500 million euros over a five-year period.

The contract award announcement was attended by Hamad Al Marar, Managing Director & CEO, EDGE Group, Rodrigo Torres, CFO, Edge Group, Biagio Mazzotta, Chairman of Fincantieri, Pierroberto Folgiero, CEO and Managing Director of Fincantieri, and Dario Deste, General Manager of the Naval Vessels Division of Fincantieri.

MAESTRAL will serve as the Industrial Strategic Partner, overseeing comprehensive maintenance management of the UAE Navy to meet key operational and logistic needs, and supporting UAE Navy's transformation journey to new levels of performance over the next five years.

Hamad Al Marar, EDGE Group Managing Director & CEO, said, "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 utilise its vast resources and pool of experience available to deliver superior maritime vessels, turnkey solutions, and lifecycle maintenance services, to deliver commercial successes to all partners involved."

Pierroberto Folgiero, Fincantieri CEO and Managing Director, 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. It also reflects the shared vision and synergy between Fincantieri and EDGE through the MAESTRAL joint venture. 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". (ANI/WAM)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)