EDGE Group and Fincantieri formalise MAESTRAL shipbuilding JV and announce 400 mln euro order for 10 naval vessels

EDGE, one of the world’s leading advanced technology and defence groups, and Fincantieri, one of the largest shipbuilding companies in the world, have signed an agreement today formalising the launch of MAESTRAL an Abu Dhabi-based shipbuilding Joint Venture (JV) between both companies. The JV, which was first announced in February of this year, will capitalise on global opportunities for the design and manufacture of advanced naval vessels. EDGE holds a 51% stake in the venture, which will be awarded prime rights to non-NATO orders, and a number of strategic orders placed by selected NATO member countries, with a commercial pipeline of orders valued at approximately 30 billion euro.
 
The signing of the agreement was immediately followed by the announcement of a large order by UAE Coast Guard Forces for 10 technologically advanced 51m Offshore Patrol Vessels (OPVs), valued at 400 million euro.
 
The P51MR Class 51m OPVs, based on the mission-proven Saettia Class, are state-of-the-art vessels characterised by their high modularity, stability in rough sea conditions, low radar signal signature, and high operational flexibility.
 
MAESTRAL will concentrate on sales, commercial operations, and engineering for design and service, while providing valuable employment opportunities for highly skilled local and international talent.