EDGE Group Partners With Fincantieri To Spearhead Global Shipbuilding Venture

In a significant move that underscores the growing synergy between advanced technology and maritime defence capabilities, EDGE, a leading entity in advanced technology and defence, has joined forces with Fincantieri, a global powerhouse in shipbuilding. The collaboration is set to establish a joint venture (JV) with the primary aim of seizing shipbuilding opportunities worldwide, focusing on the production of a wide array of sophisticated naval vessels. EDGE will possess a 51 percent stake in this venture, which boasts a commercial pipeline estimated at around 30 billion euro. Fincantieri will provide management direction, marking a pivotal step in global naval shipbuilding.

The Abu Dhabi-based JV is poised to receive prime rights to non-NATO orders, capitalising on the UAE's attractive Government-to-Government (G2G) arrangements and export credit financing packages. Additionally, it will benefit from strategic orders from selected NATO member countries. The agreement was formalised in Rome, Italy, through the signatures of Hamad Al Marar, Managing Director and CEO of EDGE Group, Pierroberto Folgiero, CEO and Managing Director of Fincantieri, and Dario Deste, General Manager of the Naval Vessels Division of Fincantieri.

This strategic alliance not only enhances EDGE's capabilities in designing and constructing frigates and other large vessels but also significantly broadens its operational range. It marks an essential development in diversifying its maritime solutions portfolio. Moreover, the JV aims to develop an underwater programme for mid-size submarines, further expanding its ambit.

Hamad Al Marar commented on the partnership, highlighting it as a transformative venture that not only broadens EDGE's shipbuilding capabilities but also sets new standards for collaboration and knowledge exchange within the global maritime industry. This partnership is seen as a testament to both entities' commitment to innovation and strategic growth through collaboration.

The JV will focus on sales, commercial operations, and engineering for design and service. It will take charge of developing shared intellectual property and retain exclusive rights to all future designs. Additionally, it plans to establish a dedicated design authority to attract highly skilled Emiratis and international expertise, supporting this innovative initiative.

Pierroberto Folgiero expressed his enthusiasm about joining forces with EDGE Group. He emphasized the creation of a unique industrial platform aimed at addressing market opportunities originating from the UAE and extending to international markets. Fincantieri's extensive experience in constructing over 7,000 ships and its role as a key supplier to various navies and the cruise ship industry plays a crucial role in this collaboration.

This partnership between EDGE and Fincantieri signifies a major leap in redefining global naval shipbuilding. It highlights both companies' leadership in high-value segments and their unwavering commitment to innovation, expertise, and global expansion. The incorporation of the JV is subject to fulfilling certain conditions precedent customary for agreements of this nature.

With inputs from WAM