by InTrieste
In a ceremony marked by strategic vision and international collaboration, EDGE, a leading advanced technology and defense conglomerate, and Fincantieri, a premier global shipbuilding company, have formalized the establishment of MAESTRAL, their joint venture headquartered in Abu Dhabi. The agreement, initially announced in February, seeks to harness global opportunities for the design and manufacture of advanced naval vessels.
The event, graced by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, was highlighted by the UAE Coast Guard Forces’ announcement of a substantial order for 10 high-performance 51-meter Offshore Patrol Vessels (OPVs), valued at 400 million euros.
EDGE, holding a 51% stake in the joint venture, will focus on securing non-NATO orders and select strategic contracts from NATO member countries, projecting a commercial pipeline worth approximately 30 billion euros.
The P51MR Class 51m OPVs, inspired by the proven Saettia Class, promise cutting-edge features including high modularity, superior stability in rough seas, reduced radar visibility, and exceptional operational flexibility.
The signing ceremony featured distinguished attendees including H.E. Faisal Al Bannai, Chairman of EDGE Group; Matteo Perego di Cremnago, Italian Undersecretary of State for Defense; Admiral Enrico Credendino, Chief of the Italian Navy; Hamad Al Marar, Managing Director & CEO of EDGE Group; Dr. Pier
roberto Folgiero, CEO & Managing Director of Fincantieri Group; and Dr. Dario Deste, General Manager of Fincantieri’s Naval Vessels Division.
His Excellency Faisal Al Bannai, Chairman of EDGE Group, remarked, “In just three months since first announcing the creation of this unique venture with Fincantieri, we are now announcing a significant national order for these sophisticated OPVs, to be built both here at our shipyards in Abu Dhabi, and in Italy. This demonstrates not only the speed and efficiency with which EDGE and its partners can operate, but also highlights our strategy of international export growth through mutually beneficial partnerships, knowledge exchange, and relentless pursuit of technological innovation.”
Pierroberto Folgiero, Fincantieri’s CEO and Managing Director, expressed his pride in the venture, stating, “We are proud to announce the creation of MAESTRAL and its first major order since the start of our collaboration with EDGE Group. Today’s signing is concrete evidence of how this Joint Venture serves as a valuable industrial platform. It will enable us to capitalize on opportunities in the strategic UAE market and enhance our commercial capabilities, fostering new growth and expansion prospects in the international defense sector.”
MAESTRAL will focus on sales, commercial operations, and engineering for design and service, setting a robust foundation for promoting a wide array of advanced maritime solutions to navies and coast guards globally. The joint venture aims to establish itself as a key player in the shipbuilding industry, leveraging the combined expertise and resources of EDGE and Fincantieri to deliver innovative and high-quality naval vessels.
