Fincantieri and Abu Dhabi Shipbuilding reach an agreement to cooperate in the UAE shipbuilding segment
During the Abu Dhabi 2019 International Defence Exhibition & Conference (IDEX), Fincantieri and Abu Dhabi Shipbuilding (ADSB), the leading shipbuilder in the United Arab Emirates specialized in the construction, repair and refit of military and commercial vessels, announced that they have reached an agreement in principle to explore future forms of industrial and market cooperation in the UAE shipbuilding segment, Fincantieri said in its release.
The agreement, to be detailed in the near future with the signing of a Memorandum of Understanding (MoU), falls within Fincantieri development strategy in the Middle East, promoting the development of local activities both in the shipbuilding segment and in the services and after sales activities to be carried out in the Region. Fincantieri and ADSB will establish a working group to define and prepare common proposals, maximizing the local content where possible, for the future programs involving the UAE’s Navy, as well as the Critical Infrastructure and Coastal Protection Authority (CICPA), which provide for the construction of new vessels, as well as refitting and maintenance activities of the future fleet of the UAE’s Navy.
In the last decade, Fincantieri has built an excellent relationship with the United Arab Emirates Navy. In fact, it is present on the local market since 2008 and has delivered three vessels built in the Group’s Italian yards in 2013, one “Abu Dhabi” class corvette of 90 meters in length and two “Falaj 2” class patrol vessels, all operating within the UAE Navy’s fleet with full customer satisfaction. Moreover, Fincantieri established the local joint venture Etihad Ship Building to support the maintenance and the full operational capability of the units delivered to the UAE Navy.