MAESTRAL, the Abu Dhabi-based joint venture between EDGE and Fincantieri, has been awarded a significant contract by Tawazun Council, marking a strategic partnership for the comprehensive fleet maintenance management of the UAE Navy. The agreement, valued at approximately €500 million over a five-year period, underscores the collaboration between two global leaders in advanced technology and shipbuilding.
The official contract announcement took place at the IDEX/NAVDEX event in Abu Dhabi, attended by high-level executives including Mr. Hamad Al Marar, Managing Director & CEO of EDGE Group, Mr. Rodrigo Torres, CFO of 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.
As the Industrial Strategic Partner, MAESTRAL will oversee the management of maintenance services for the UAE Navy fleet, addressing key operational and logistical requirements. The joint venture is expected to contribute significantly to the transformation of the UAE Navy, enhancing its performance over the next five years.
Hamad Al Marar, EDGE Group Managing Director & CEO, commented, “This contract is a testament to the trust placed in MAESTRAL’s capabilities by key global stakeholders. With Fincantieri, we are confident that this partnership will leverage our combined resources and experience, delivering state-of-the-art maritime vessels, turnkey solutions, and lifecycle maintenance services that will drive commercial success for all partners involved.”
Pierroberto Folgiero, CEO of Fincantieri, added, “This agreement marks a crucial milestone in Fincantieri’s growth within the region. It reinforces our long-term commitment to industrial partnerships focused on excellence. We are proud to stand with the UAE Navy as a trusted partner, delivering advanced technology and world-class maintenance services to support modern naval operations.”
The ‘In-Service Support Strategic Partnership Project’ will see a close collaboration between Fincantieri and EDGE’s Abu Dhabi Shipbuilding (ADSB) within the MAESTRAL joint venture. By combining the expertise of UAE-based and international shipyards, the project will enhance the operational capabilities of the UAE Navy through cutting-edge technical, engineering, and management solutions.
Launched in May 2024, the MAESTRAL joint venture is focused on capitalising on global opportunities in the design, manufacture, and commercialisation of advanced naval vessels and services, aiming to deliver unparalleled quality and innovation to the UAE Navy and its partners.
