Fincantieri, Edge Group join forces on new naval projects
Edge Group’s entity Abu Dhabi Ship Building (ADSB) has signed an industrial cooperation agreement with Italian shipbuilder Fincantieri at the International Defence Exhibition and Conference (IDEX 2023).
Under the terms of the agreement, EDGE and Fincantieri will join forces on the design, construction, and fleet management of military and commercial vessels.
Furthermore, the partners wil work on creating new business opportunities in the local and international markets with value-added advanced technology solutions.
The agreement was signed by Khalid Al Breiki, President of Platforms & Systems at EDGE and Vice Chairman of ADSB, and Pierroberto Folgiero, CEO of Fincantieri during a ceremony at IDEX 2023.
Speaking on the occasion, Khalid Al Breiki, said: “We are very pleased to sign this Industrial Cooperation Agreement with Fincantieri and we look forward to cooperatively pursuing opportunities and providing a more comprehensive offering to our customers both locally and globally”.
Pierroberto Folgiero commented: “The agreement demonstrates the convergence ADSB and Fincantieri’s objectives in the UAE as well as representing an important opportunity to leverage synergies that will allow for joint consolidation and growth process. With the opening of the next NewCo which is fully owned by the Group, this also confirms our strong commitment to strengthening our position and credibility in the UAE”.
Recently, ADSB, which is a naval arm of Edge Group, secured an order to build new corvettes for Angolan Navy.