MAESTRAL And EDGE-Fincantieri Joint Venture Awarded €500 Million Contract For UAE Navy Support

EDGE and Fincantieri have announced that their joint venture, MAESTRAL, based in Abu Dhabi, will receive a significant contract from the Tawazun Council. This project involves providing comprehensive in-service support for the entire UAE Navy fleet. The agreement is valued at around 500 million euros over five years. Tawazun Council collaborates closely with the UAE Ministry of Defence and security agencies.

The contract was announced in the presence of key figures such as Hamad Al Marar, Managing Director & CEO of EDGE Group, Rodrigo Torres, CFO of EDGE Group, Biagio Mazzotta, Chairman of Fincantieri, Pierroberto Folgiero, CEO and Managing Director of Fincantieri, and Dario Deste, General Manager of Fincantieri's Naval Vessels Division. MAESTRAL will act as the Industrial Strategic Partner to manage maintenance for the UAE Navy.

Hamad Al Marar expressed confidence in MAESTRAL's capabilities to meet operational and logistic needs. He stated, "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 highlighted the importance of this contract for Fincantieri's regional expansion. He said it strengthens their commitment to industrial partnerships that achieve excellence. Folgiero remarked on the shared vision between Fincantieri and EDGE through MAESTRAL. "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," he stated.

MAESTRAL is set to oversee comprehensive maintenance management for the UAE Navy over five years. This initiative aims to elevate performance levels significantly. The partnership reflects a synergy between EDGE and Fincantieri aimed at delivering world-class maintenance services tailored to modern naval operations' evolving needs.

The collaboration between EDGE and Fincantieri through MAESTRAL is expected to bring commercial success by leveraging their combined resources and expertise. The strategic partnership aims to enhance operational efficiency while supporting the UAE Navy's transformation journey.

With inputs from WAM