Adnoc signs Dhs6b framework deals with UAE firms

Adnoc announced on Wednesday that it has signed framework agreements valued at Dhs6 billion ($1.64 billion) with 12 UAE-based companies for manufacturing of critical industrial equipment in the UAE, supporting the 'Make it in the Emirates' initiative.

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The long-term agreements are for the manufacturing of cables and pressure vessels. They will potentially create up to 1,300 skilled private-sector jobs, ensure availability of these equipment across Adnoc's value chain, reduce delivery times and mitigate global supply chain risks.

The framework agreements will accelerate investment across industrial zones in Abu Dhabi, Dubai and the Northern Emirates, deepening the impact of Adnoc's In-Country Value (ICV) programme in boosting UAE manufacturing capacity, building a more resilient industrial base and enhancing business continuity.

The signing of the agreements was witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc Managing Director and Group CEO at the 'Make it in the Emirates' forum currently taking place in Abu Dhabi.