EDGE: During Euronaval 2024, we signed a memorandum of understanding with Fincantieri, paving the way for strategic cooperation in the field of highly capable submarine systems. This partnership aims to develop advanced manned and unmanned submarine systems through our joint shipbuilding venture in Abu Dhabi, Maestral.
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This agreement represents EDGE's first step in the field of submarines, as it will allow the development of a group of innovative, interoperable, manned and unmanned products, which will enhance the UAE's sovereign capabilities in the field of advanced defense technology, and achieve the interests of the country's naval forces and their counterparts around the world.
Pierberto Folgiero, CEO and Managing Director of Fincantieri, said: “The agreement between Fincantieri and EDGE confirms the commitment of both parties to pioneering the advancement of submarine technologies, combining engineering excellence with a forward-thinking approach and focusing attention towards planning for the future. The submarine field presents exceptional challenges,
From fluid dynamics to communications and autonomous driving, requiring innovative and flexible solutions. Together we aim to develop systems that meet the highest interoperability standards and the most important needs of the defense and energy sectors. We are also devoting our efforts to establishing new standards in the areas of safety, resilience and environmental responsibility in submarine operations, which will contribute greatly to enhancing national capabilities and global maritime security.”
For his part, Hamad Al Marar, Managing Director and CEO of EDGE Group, said: “In just five years, EDGE has expanded its business across all areas of advanced technology and defense. From the beginning, we have pursued an ambitious strategy to develop the technologies and expertise necessary to achieve leadership within the air, land, sea and cyber fields. Space requires cooperation and successful partnerships, and our ongoing partnership with Fincantieri embodies this ambitious strategy, as it provides unlimited opportunities For the two companies through the joint development and production of advanced ships and submarines.
The Maestral joint venture focuses on sales, commercial operations and engineering for the design and service of ships, submarines and other marine products, while providing valuable employment opportunities for highly skilled local and international talent.
https://edgegroup.ae/ar/news/edge-group-and-fincantieri-move-jointly-develop-underwater-solutions
Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, witnessed the signing ceremony of a strategic partnership agreement between the “EDGE” group, a global leader in the field of defense and advanced technology, and the Italian company “Fincantieri”, to launch
“Meastral”, the joint shipbuilding project between the two companies. In Abu Dhabi.
The joint venture, which was first announced last February, will capitalize on global opportunities to design and manufacture advanced warships.
The Edge Group owns a 51 percent stake in the project, which will be granted major rights to non-NATO orders, and a number of strategic orders placed by selected NATO member states, with a commercial portfolio of orders worth approximately $30 billion. Euros (about 32.6 billion dollars).
Yes, the United Arab Emirates' (UAE) EDGE Group and Italian shipbuilder Fincantieri have formed a joint venture (JV) to design and manufacture advanced naval vessels:
- Name: MAESTRAL
- Location: Based in Abu Dhabi
- Focus: Designing and manufacturing naval vessels, including frigates and submarines
- Shareholding: EDGE holds 51% of the JV, while Fincantieri holds 49%
- First order: 10 Offshore Patrol Vessels (OPVs) for the UAE Coast Guard Forces
- Other goals: Cultivate a new generation of naval engineers and designers
The JV's objectives include: Capitalizing on global shipbuilding opportunities, Developing shared intellectual property, and Providing employment opportunities for local and international talent.
The partnership was announced in February 2023 and formalized in May 2024:
- February 2023: The two companies signed an Industrial Cooperation Agreement
- May 2024: The JV was formalized and a 400 million euro order for 10 naval vessels was announced
Sheikh Khalid bin Mohammed bin Zayed Al Nahyan stressed that this strategic partnership reflects the advanced level that the national industry in the Emirates has reached in various priority areas, including defense and military industry programs and initiatives, which demonstrate the high efficiency enjoyed by national cadres and the ability of national companies. To keep pace with the latest global trends that rely on innovative solutions, advanced technology and exact sciences to build competitive capabilities capable of anticipating the future of defense industries in line with the sector’s requirements in accordance with the highest and finest standards of quality and excellence.
The signing of the agreement was immediately followed by the announcement of a large order from the UAE Coast Guard to purchase 10 technologically advanced marine patrol vessels with a length of 51 meters, at a value of 400 million euros.
The 51m P51MR patrol ships, based on the proven Saettia class, are modern ships characterized by their high modularity, stability in harsh sea conditions, low radar detection and high operational flexibility.
The agreement signing ceremony was attended by Faisal Abdulaziz Al Bannai, Chairman of the Board of Directors of EDGE Group; Matteo Perego di Cremenago, Undersecretary of the Italian Ministry of Defence; Admiral Enrico Credendino, Chief of the Italian Navy; Hamad Mohammed Al Marar, Managing Director and CEO of EDGE Group; Pierroberto Folgiero, CEO and Managing Director of Fincantieri Group; and Dario Deste, General Manager of Fincantieri's Marine Division.
