Abu Dhabi, UAE – ADNOC has signed agreements with 23 UAE and international companies for local manufacturing opportunities across a wide range of critical industrial products worth AED17 billion ($4.63 billion), the energy giant said Thursday.
The agreements outline the intention of the companies to manufacture these products in the UAE, supporting the ‘Make it in the Emirates’ initiative and the ‘Abu Dhabi Industrial Strategy’.
The products are part of the AED70 billion ($19 billion) worth of products in ADNOC’s procurement pipeline that the company identified for domestic manufacturing in July 2022.
Dr. Saleh Al Hashimi, ADNOC Director, Commercial & In-Country Value Directorate, said, “These agreements reinforce our role as a critical engine for the UAE’s industrial growth and they offer significant potential to further increase our GDP contributions, stimulate economic diversification and create more skilled job opportunities for UAE Nationals.”
Last year, ADNOC signed agreements for local manufacturing commitments worth over AED25 billion ($6.8 billion) with UAE and international companies.
