(MENAFN- Khaleej Times)
The UAE on Tuesday signed a Dh3.5 billion ($950 million) contract with Abu Dhabi Ship Building (ADSB) to manufacture four new patrol vessels for its navy, ADSB said.
In a statement, the regional leader in the new build, repair, maintenance, refit and conversion of naval and commercial vessels said it is largest ever order received by ADSB. It did not say when it would start and complete delivery of the vessels.
''This contract underscores our mutual commitment to serving the UAE Navy with the right products and advanced shipping solutions — to enable a secure future. We look forward to expanding and enhancing our portfolio of vessels,” David Massey, chief executive of ADSB, said.
ADSB is 40 per cent owned by state defence conglomerate Edge and 10 per cent owned by the Abu Dhabi government, according to its website.
Khalid Al Breiki, Chairman of ADSB and President – Mission Support, Edge said this order represents a resounding vote of confidence in ADSB from the Ministry of Defence and the UAE Navy.
''The contract will provide the company with a platform for sustainable profitable growth, while maintaining strategic national assets that are critical to the defence of the UAE,” he said.
David Massey said ADSB’s relationship with key stakeholders has grown stronger since it has become a part of the Edge Group.
ADSB has built Baynunah-class corvettes for the UAE navy, the last of which it said was delivered in 2017. The Falaj-3 class is a highly flexible and versatile offshore patrol vessel used to carry out a wide range of missions.
Running one of the most advanced shipyards in the Middle East, ADSB operates three main naval programmes — Corvettes, offshore patrol vessels and fast patrol boats.
The company also offers a full range of maintenance, repair and refit, upgrade and conversion, as well as engineering consultancy services.
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