Khaled bin Mohamed bin Zayed witnesses signing of EDGE and Fincantieri's shipbuilding joint venture, MAESTRAL.

Post by : Kanchan Chandel

Photo-Abu Dhabi Media Office

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, witnessed the signing of a significant agreement today between EDGE Group, a leading advanced technology and defence group, and Fincantieri, one of the world’s largest shipbuilding companies. This agreement formalises the launch of MAESTRAL, a shipbuilding joint venture (JV) based in Abu Dhabi.

First announced in February, the JV will focus on designing and manufacturing advanced naval vessels, leveraging global opportunities. EDGE holds a 51% stake in the venture, which will handle prime rights to non-NATO orders and strategic orders from selected NATO member countries, with a commercial pipeline valued at around 30 billion Euros.

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His Highness highlighted that this partnership signifies substantial progress in key priority areas, especially in the UAE’s military and defence industries. It also demonstrates the exceptional capabilities of Emirati talent and local companies in keeping pace with global trends.

He emphasized that Abu Dhabi is building a forward-looking defence ecosystem through innovative solutions, cutting-edge technology, and precision sciences.

Following the signing, the UAE Coast Guard Forces announced a major order for 10 advanced 51m Offshore Patrol Vessels (OPVs), valued at 400 million Euros. These P51MR Class OPVs, based on the Saettia Class, are notable for their high modularity, stability in rough seas, low radar signature, and operational flexibility.

The ceremony was also attended by key figures including His Excellency Faisal Al Bannai, Chairman of EDGE Group; the Hon. Matteo Perego di Cremnago, Italian Undersecretary of State for Defense; His Excellency Admiral OF-9 Enrico Credendino, Chief of the Italian Navy; Hamad Al Marar, Managing Director & CEO of EDGE Group; Dr. Pierroberto Folgiero, CEO & Managing Director of Fincantieri Group; and Dr. Dario Deste, General Manager of the Naval Vessels Division at Fincantieri.

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