Fincantieri-EDGE JV Lines Up $520M UAE Navy Support Contract
Maestral, an Abu Dhabi-based shipbuilding joint venture between Fincantieri and EDGE, has lined up a major ‘In-Service Support Strategic Partnership Project’ for the entire navy fleet of the United Arab Emirates (UAE), worth over $520 million.
The contract to Maestral will be awarded by Tawazun Council, an independent government entity that works closely with the Ministry of Defence and security agencies in the Gulf country.
The value of the agreement is of approximately $524 million over a five-years period.
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.
The strategic partnership project will see a close collaboration between Fincantieri and EDGE Group entity, Abu Dhabi Shipbuilding (ADSB) under the Maestral joint venture.
“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 available to deliver superior maritime vessels, turnkey solutions, and lifecycle maintenance services, to deliver commercial successes to all partners involved,” said Hamad Al Marar, EDGE Group Managing Director & CEO.
“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,” added Pierroberto Folgiero, Fincantieri CEO and Managing Director.
