Search Site

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

Abu Dhabi Ship Building signs MoU

ADSB operates three main naval programmes: Corvettes, offshore patrol vessels and fast interceptor vessels. (ADSB)
  • They will build a range of interceptors, landing craft, and rigid-hull inflatable boats (RHIBs) for Indonesia’s naval and coast guard requirements.
  • ADSB operates three main naval programmes: Corvettes, offshore patrol vessels and fast interceptor vessels.

Jakarta, Indonesia– Abu Dhabi Ship Building (ADSB), an EDGE entity, today signed a Memorandum of Understanding with PT PAL Indonesia, Indonesia’s state-owned shipbuilder, to build a range of interceptors, landing craft, and rigid-hull inflatable boats (RHIBs) for Indonesia’s naval and coast guard requirements.

The deal was signed by Maktoom Al Shehhi, Director of MRO at ADSB and Dr. Kaharuddin Djenod, CEO of PT PAL Indonesia, on the second day of the Indo Defence Expo & Forum 2022, being held at JIExpo Kemayoran in Jakarta, Indonesia, until 5th November.

ADSB operates three main naval programmes: Corvettes, offshore patrol vessels and fast interceptor vessels. The company also provides a full range of services, including maintenance, repair and refit, upgrade and conversion, as well as design and engineering consultancy.

David Massey, CEO of ADSB, said, “Our cooperation with PT PAL clearly strengthens our investment in Indonesia and the global export success of our world-class vessels.”

Dr. Kaharuddin Djenod, CEO of PT PAL Indonesia, said, “We are pleased to sign this MoU with Abu Dhabi Ship Building, which will support our objective of strengthening the Indonesian naval and defence industry. This collaboration will strengthen PT PAL’s role in mastering naval technology in Indonesia.”