EDGE, Fincantieri JV to support UAE Navy’s fleet under €500 million deal

MAESTRAL, the Abu Dhabi-based shipbuilding joint venture of Italian shipbuilder Fincantieri and technology and defense group EDGE, will be awarded a major in-service support strategic partnership project for the entire UAE Navy’s fleet.

The two companies established the joint venture, which will concentrate on sales, commercial operations, and engineering for the design and service of naval vessels, back in 2024.

The joint venture will receive a support contract from Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security agencies in the United Arab Emirates.

Specifically, MAESTRAL will serve as the industrial strategic partner, overseeing comprehensive maintenance management of the UAE Navy to meet operational and logistic needs and “supporting the UAE Navy’s transformation journey to new levels of performance” over the next five years.

The value of the agreement is approximately €500 million over a five-year period.  

“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,” Hamad Al Marar, EDGE Group Managing Director & CEO, said.

“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,” Pierroberto Folgiero, Fincantieri CEO and Managing Director, stated.

Last year, the two companies signed a contract with UAE Coast Guard Forces for the construction of ten offshore patrol vessels (OPVs).