Abu Dhabi's EDGE Group And Fincantieri Formalise MAESTRAL Shipbuilding Joint Venture

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, witnessed the signing of an agreement between EDGE Group and Fincantieri today. This agreement formalises the launch of MAESTRAL, an Abu Dhabi-based shipbuilding joint venture (JV) between the two companies. EDGE Group is a leading advanced technology and defence group, while Fincantieri is one of the largest shipbuilding companies globally.

The JV, initially announced in February, aims to capitalise on global opportunities for designing and manufacturing advanced naval vessels. EDGE holds a 51 percent stake in the venture, which will be awarded prime rights to non-NATO orders and several strategic orders from selected NATO member countries. The commercial pipeline of orders is valued at approximately €30 billion.

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H.H. Sheikh Khaled highlighted that this strategic partnership underscores significant advancements in the UAE’s military and defence industries. He emphasised the exceptional capabilities of Emirati talent and local companies to align with the latest global trends. By developing and using innovative solutions, advanced technology, and precision sciences, Abu Dhabi is building a defence ecosystem capable of anticipating and shaping future defence needs.

Following the signing of the agreement, the UAE Coast Guard Forces announced a large order for 10 technologically advanced 51m Offshore Patrol Vessels (OPVs), valued at €400 million. These P51MR Class 51m OPVs are based on the mission-proven Saettia Class and are characterised by their high modularity, stability in rough sea conditions, low radar signal signature, and high operational flexibility.

Attendees at the Signing Ceremony

The signing ceremony was attended by several notable figures, including Faisal Al Bannai, Chairman of EDGE Group; Matteo Perego di Cremnago, Italian Under-Secretary of State for Defense; Admiral OF-9 Enrico Credendino, Chief of the Italian Navy; Hamad Al Marar, Managing Director and CEO of EDGE Group; Dr. Pierroberto Folgiero, CEO and Managing Director of Fincantieri Group; and Dr. Dario Deste, General Manager of the Naval Vessels Division at Fincantieri.

With inputs from WAM