Fincantieri, Abu Dhabi Shipbuilding to explore cooperation

Fincantieri, Abu Dhabi Shipbuilding to explore cooperation

Italy's Fincantieri and leading United Arab Emirates shipbuilder Abu Dhabi Shipbuilding are to look at future forms of industrial and market cooperation in the UAE shipbuilding sector, Fincantieri announced on Thursday during the Abu Dhabi 2019 International Defence Exhibition & Conference.

The details of the accord between Fincantieri and ABDS - which is specialized in the construction, repair and refit of military and commercial vessels - will be finalised "in the near future" with the signing of a Memorandum of Understanding, said the Fincantieri statement.

The accord is part of Fincantieri's development strategy in the Middle East based on fostering local activities both in the shipbuilding segment and in services and after sales activities in the region, the statement said.

The MoU - will cover future shipbuilding programmes involving the UAE’s Navy and as its Critical Infrastructure and Coastal Protection Authority, as well as refitting and maintenance activities for the UAE Navy's future fleet, the statement said.

Fincantieri has established the local joint venture Etihad Ship Building to support the maintenance and the full operational capability of the units delivered to the UAE Navy, with which it has built "an excellent relationship" over the past decade, the statement added.

In 2013, Fincantieri delivered three vessels built in Fincantieri's Italian yards for the UAE Navy - an “Abu Dhabi” class corvette of 90 metres and two “Falaj 2” class patrol vessels, the statement noted.

Fincantieri, one of the world’s largest shipbuilding groups, is a market leader in all high-tech shipbuilding industry sectors, as well cruise ship design and construction. It has been present in the UAE since 2008, according to the statement.