MAESTRAL, a shipbuilding joint venture between EDGE Group and Fincantieri, has been awarded a five-year contract worth approximately €500 million for in-service support of the UAE Navy fleet. The agreement was granted by Tawazun Council, an independent UAE government entity working with the Ministry of Defence and security agencies.
The contract award was officially announced at IDEX/NAVDEX in Abu Dhabi, attended by senior executives from both EDGE and Fincantieri, including Hamad Al Marar, Managing Director & CEO of EDGE Group, and Pierroberto Folgiero, CEO and Managing Director of Fincantieri.
As the UAE Navy’s Industrial Strategic Partner, MAESTRAL will manage fleet maintenance to support operational and logistical requirements. The project also involves collaboration with Abu Dhabi Shipbuilding (ADSB), a subsidiary of EDGE Group, combining expertise from UAE-based and international shipyards.
Hamad Al Marar, EDGE Group Managing Director & CEO, said: “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, Fincantieri CEO and Managing Director, stated: “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. It also reflects the shared vision and synergy between Fincantieri and EDGE through the MAESTRAL joint venture. We are proud to stand alongside the UAE Navy as a trusted partner, ensuring sustained support, cutting-edge technology, and world-class maintenance services that meet the evolving needs of modern naval operations."
MAESTRAL was established in May 2024 with the aim of developing, producing, and commercialising advanced naval vessels and services globally.
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