MAESTRAL, the EDGE-Fincantieri Joint Venture, to beawarded €500 million UAE Navy Support Contract
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MAESTRAL will be the Strategic Partner of the UAE Navy for the comprehensive fleet maintenance management
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The official contract award took place at IDEX/NAVDEX in Abu Dhabi
Abu Dhabi, UAE / Trieste, Italy, February 17. EDGE, one of the world’s leading advanced technology and defence groups, and Fincantieri, one ofthe world’s leading groups in high-complexity shipbuilding, announced today that MAESTRAL, their Abu Dhabi-based shipbuilding joint venture, will be awarded a major ‘In-Service Support Strategic Partnership Project’ for the entire UAE Navy fleet by Tawazun Council. Tawazun Council is an independent government entity that works closely with the Ministry of Defence and security agencies in the United Arab Emirates. The value of the agreement is of approximately 500 million euros over a five-year period.
The contract award announcement was attended by Mr. Hamad Al Marar, Managing Director & CEO, EDGE Group, Mr. Rodrigo Torres, CFO, Edge Group, Mr. Biagio Mazzotta, Chairman of Fincantieri, Mr. Pierroberto Folgiero, CEO and Managing Director of Fincantieri, and Mr. Dario Deste, General Manager of the Naval Vessels Division of Fincantieri.
MAESTRAL will serve as the Industrial Strategic Partner, overseeing comprehensive maintenance management of the UAE Navy to meetkey operational and logistic needs, and supporting UAE Navy’s transformation journey to new levels of performance over the next five years.
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”.
The ISS Strategic Partnership Project will see a close collaboration between Fincantieri and EDGE Group entity, Abu Dhabi Shipbuilding (ADSB) under the MAESTRAL joint venture. This unique joint proposition will leverage the combined capabilities of UAE national and international advanced shipyards, deploying a full range of technical, engineering and management expertise to enhance the quality and performance of the UAE Navy.
The MAESTRAL joint venture, first announced in May 2024, aims to capitalise on global opportunities for the commercialisation, design, and manufacture of advanced naval vessels and services.
