Fincantieri jv lands EUR 500 million naval contract from UAE
The agreement forms part of a wider economic collaboration between Italy and UAE (Source: Fincantieri)
Following a visit to the UAE by Italian prime minister Giorgia Meloni, Maestral, the joint venture between Fincantieri and Emirati military technology company Edge, has won a EUR 500 million contract for maintenance and management of the UAE Navy fleet over the next five years. The Maestral agreement will entail collaboration between Fincantieri and Abu Dhabi Shipbuilding (ADSB), owned by Edge Group.
“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,” said Hamad Al Marar, Edge Group CEO.
“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,” said Pierroberto Folgiero, Fincantieri CEO. “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."
UAE President Sheikh Mohamed bin Zayed Al Nahyan is visiting Italy this week to discuss further strategic collaboration between the two countries.
