EDGE Group and Fincantieri have inked an agreement to launch MAESTRAL, a shipbuilding Joint Venture (JV) based in Abu Dhabi, on Monday (May 20). The partnership, announced initially in February, aims to tap into global opportunities for advanced naval vessel design and manufacturing. With EDGE holding a 51% stake, MAESTRAL gains priority access to non-NATO orders and select orders from NATO member nations, boasting a commercial pipeline valued at approximately €30 billion.
Following the agreement signing, the JV wasted no time in announcing a substantial order from the UAE Coast Guard Forces. The order entails 10 state-of-the-art 51m Offshore Patrol Vessels (OPVs) valued at €400 million.
The P51MR Class OPVs, based on the Saettia Class, feature high modularity, stability in rough seas, low radar signature, and operational flexibility.
“In just three months since first announcing the creation of this unique venture with Fincantieri, we are now announcing a significant national order for these sophisticated OPVs, to be built both here at our shipyards in Abu Dhabi, and in Italy,” said Faisal Al Bannai, Chairman of EDGE Group.
“Not only does this demonstrate the speed with which EDGE and its partners can operate, and the resources we can mobilise, but fully underscores our strategy of international export growth through mutually beneficial partnerships, the exchange of knowledge and expertise, and the continued pursuit of technological excellence through innovation.”
“It also opens up opportunities for MAESTRAL to promote an extensive portfolio of diverse maritime solutions, including a complete series of technologically advanced vessels, to navies and coast guards around the world,” he added.
“We are proud to announce the creation of MAESTRAL and a first major order since the start of our collaboration with EDGE Group,” said Pierroberto Folgiero, Fincantieri CEO and Managing Director.
“Today’s signing represents concrete evidence of how this Joint Venture is an industrial platform of great value, which will allow us not only to seize the opportunities arising in a strategic market such as the UAE, but also to further develop our commercial capabilities, thus creating new and important opportunities for growth and expansion in the international defence sector in connection with Abu Dhabi export platform.”
MAESTRAL will focus on sales, commercial operations, and engineering for design and service, providing employment opportunities for skilled local and international talent.
EHang Holdings EH216-S pilotless electric vertical takeoff and landing (eVTOL) aircraft has completed its first autonomous air taxi flight in…
Bangkok Airways has unveiled its Low Carbon Skies initiative, a significant step towards sustainability through the reduction of carbon emissions…
Vietnam Airlines has integrated the Altéa Passenger Service System (PSS) from Amadeus, marking a significant step in its ongoing digital…
NH Industries (NHI) and the NATO Helicopter Management Agency (NAHEMA) have inked a contract to initiate the development and qualification…
PT Palindo Marine, a private shipyard in Indonesia, began construction on a new model of the "Kapal Cepat Rudal 60"…
ASELSAN is set to display its wide array of products and solutions at the upcoming EUROSATORY 2024, scheduled for June…
EDGE Group has launched the Radar and Electronic Warfare (EW) Centre of Excellence, and the Electro Optic Centre of Excellence…
Gulfstream's clean-sheet Gulfstream G500 and Gulfstream G600 have each surpassed 100,000 flight hours. Powered by Pratt & Whitney Canada engines,…
Emirates has started utilising sustainable aviation fuel (SAF) for its flights departing from Singapore Changi Airport. This marks the airline's…
Eve Air Mobility on Wednesday released a second video of its first full-scale eVTOL non-conforming prototype as it continues production…
Rheinmetall AG, the Düsseldorf-based technology group, and Ukraine have taken a significant step towards strengthening their strategic alliance. The Minister…
AeroTransCargo (ATC), a global cargo airline, has announced the appointment of Charles Szar as its new President. Szar brings a…
Americas GSA, a subsidiary of ECS Group, announced a strategic partnership with JetBlue Cargo. This partnership marks a significant development…
Estonian robotics and autonomous systems developer, Milrem Robotics, and AEC Skyline, a supplier of advanced critical data solutions, have collaborated…
AL TAIF, an entity of the EDGE Group and a provider of military maintenance, repair and overhaul (MRO) services in…
Singapore and Ukraine have entered into an Air Services Agreement (ASA) to support air connectivity between both countries. The agreement…
The HIS consortium comprising of of Helsing GmbH and Schönhofer Sales and Engineering GmbH (SSE), a 100% subsidiary of Rohde…
The Transport Safety Investigation Bureau of Singapore (TSIB) has issued its Preliminary Investigation findings of the SQ321 incident, which took…
Israel based Roboteam, a leading developer and manufacturer of tactical unmanned platforms for defence and security missions, has announced today an…
The U.S. Air Force (USAF) recently completed Initial Operational Test & Evaluation (IOT&E) of BAE System’s Eagle Passive Active Warning…
PT Dirgantara Indonesia (PTDI) and PT Intercrus Aero Indonesia have signed a Memorandum of Understanding (MoU) in Bandung on Wednesday…
India's Kadet Defence Systems (KDS) has announced the launch of jet-powered aerial targets, making it the first private company in…
Amsterdam-based KNDS, a joint venture between Krauss-Maffei Wegmann and Nexter, is no longer in talks with Leonardo regarding a potential…
Malaysia’s AIROD (Aircraft Inspection, Repair & Overhaul Depot) has entered into a collaboration with Turkish Aerospace Industries Inc (TAI). The…
Raytheon has been awarded a US$677 million contract to continue to produce AN/SPY-6(V) radars for the U.S. Navy. This is…
The German Ministry of the Interior has ordered up to 44 H225 helicopters for its Federal Police. The record order…
KNDS, a Franco-German defence company, has recently completed another successful round of testing for its ASCALON 140mm gun. The test…
BAE Systems has received an US$95 million contract from the U.S. Navy for advanced countermeasure pods to protect the P-8A…
The Royal Malaysian Navy (RMN) has selected Turkiye’s STM (Savunma Teknolojileri Mühendislik ve Ticaret A.Ş) for the procurement of three…
Qatar Airways Cargo and MASkargo, the cargo subsidiary of Malaysia Aviation Group, have inked a Memorandum of Understanding (MoU) to…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.