MAESTRAL, a shipbuilding joint venture between the EDGE Group and Fincantieri, has secured a $522.4 million comprehensive fleet maintenance management contract from the United Arab Emirates Tawazun Council.
The five-year In-Service Support Strategic Partnership Project, formalized at IDEX/NAVDEX in Abu Dabi on Monday, covers the whole fleet of the UAE Navy, ensuring that each vessel is fitted with technologies capable of addressing current and future threats.
EDGE Group CEO and Managing Director Hamad Al Marar said the new contract shows MAESTRAL’s ability to deliver advanced technologies that the company’s international customers need.
“Together with Fincantieri, we are fully confident that these capabilities will provide valuable opportunities from which this unique joint venture can utilize 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,” he said.
Under the deal, the JV will act as the industrial strategic partner, collaborating with Abu Dhabi Shipbuilding and other related businesses, leveraging the national industry’s expertise in shipbuilding and defense technologies.
For Pierroberto Folgiero, CEO and managing director of Fincantieri, the deal marks a milestone in the company’s regional expansion.
“We are proud to stand alongside the UAE Navy as a trusted partner, ensuring sustained support, cutting-edge technolog and world-class maintenance services that meet the evolving needs of modern naval operations,” he said.
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