After the agreement signed a year ago with the Abu Dhabi Ship Building (ADSB) of the UAE EDGE group for design and construction of naval vessels ( of 22 February 2023), today in Rome, at the headquarters of the Navy Italian Military, Fincantieri has signed a term with EDGE Sheet to set up a joint venture that will be controlled by the by the Middle Eastern company with 51% ownership of the capital of the new company. The joint venture, which will have based in Abu Dhabi, will carry out construction activities under the management of the Italian shipbuilding group with a focus on on the production of a wide range of naval vessels and a supply chain based in the United Arab Emirates with an estimated value of €30 billion. Fincantieri and EDGE announced that the joint venture venture will have pre-emption rights for non-NATO orders, exploiting in particular the attractiveness of G2G agreements United Arab Emirates and Credit Financing Packages export, along with a number of strategic orders carried out by selected NATO member countries.

The parties have specified that the joint venture, which is subject to a number of customary preconditions for a agreement of this kind, will have strong cooperation in the marketing of its products with the Marinas of different countries around the world, in line with its global ambition and commitment to in the development of joint and future intellectual property design. It was also pointed out that this agreement enhances EDGE's ability to design and build frigates and other large ships, expanding its range and marking a crucial step forward in the diversification of the portfolio of maritime solutions. Fincantieri and EDGE have specified that the joint venture also aims to develop the underwater with a medium-sized submarine program.

In addition, the joint venture will focus on the sale, Business Operations & Engineering for Design & Service taking responsibility for developing the shared intellectual property and to maintain the rights exclusive to all future designs. The new company It will also set up a dedicated Design Authority, opening up new opportunities for highly skilled Emiratis, and attracting international expertise to support this initiative.