ADNOC Closes Deals Worth AED 17B with 23 Companies for Manufacturing Opportunities

ADNOC Closes Deals Worth AED 17B with 23 Companies for Manufacturing Opportunities

ADNOC has inked contracts with 23 UAE and international companies for local manufacturing opportunities across a wide range of critical industrial products worth AED17 billion ($4.63 billion).

According to the agreements, the businesses intend to produce these goods in the United Arab Emirates in support of the “Make it in the Emirates” initiative and the “Abu Dhabi Industrial Strategy.” The goods are a part of the AED70 billion ($19 billion) worth of goods that ADNOC designated for local manufacturing in July 2022 and are currently in the company’s procurement pipeline.

Through its In-Country Value (ICV) program, ADNOC continues to encourage the private sector to take advantage of the business prospects for local manufacturing along its value chain as it grows and decarbonizes its operations.

Saleh Al Hashimi, ADNOC Director, Commercial & In-Country Value Directorate, said: “In line with the directives of the UAE’s wise leadership, ADNOC is creating long-term domestic manufacturing opportunities from our procurement pipeline to enhance the UAE’s industrial base and strengthen the resilience of our supply chains as we make today’s energy cleaner and invest in the clean energies of the future. 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. We look forward to working with these companies to deliver on these important agreements and drive more sustainable value to the UAE.”


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