February 1, 2025

ADNOC Signs Agreements with 23 Companies

Facebook
Twitter
LinkedIn
Dr. Saleh Al Hashimi, ADNOC Director

ADNOC, a reliable and responsible provider of lower-carbon intensity energy, recently announced it 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 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. 

ADNOC continues to encourage the private sector to capitalize on the commercial opportunities for domestic manufacturing across its value chain through its In-Country Value (ICV) program, as it expands and decarbonizes its operations. 

Dr. 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.”

Last year, ADNOC signed agreements for local manufacturing commitments worth over AED25 billion ($6.8 billion) with UAE and international companies. The company continues to take a transparent approach to showcasing its product outlook as part of its ICV program. This approach underscores ADNOC’s efforts to ensure business continuity and incentivize investors and suppliers to set up or expand manufacturing capacity in the UAE. ADNOC aims to drive AED175 billion ($48 billion) back into the UAE economy through its ICV program as part of its five-year business plan for 2023-2027. 

Source

Share.

RELATED POSTS

BBD Education and TestRight announce strategic partnership. Image Courtesy: BBD Education
BBD Education Partners with TestRight to Establish K-12 Education in Egypt
CyberKnight, a leading cybersecurity value-added distributor (VAD) in the META region, announces the appointment of Rabih Itani as the Regional Sales Director for the Gulf region. Image Courtesy: CyberKnight
CyberKnight Appoints Rabih Itani as RSD for the Gulf Region
Haytham Yehia as Chairman and Chief Executive Officer for Shell Lubricants Egypt: Image-Courtesy-Shell
Haytham Yehia Leads Shell Lubricant Egypt as Chairman and CEO
  • Asialink Finance

LATEST POSTS

Representational Image of the House Blueprint by Freepik
The expanded lounge in Bangkok now stands as the largest international lounge facility beyond the airline’s home market. Image courtesy: Emirates
Falal Ameen - CEO Ghitha Holding. Image courtesy Ghitha Holding
Shinichi ‘Sam’ Yoshida, President & CEO for Canon Europe, Middle East and Africa (EMEA). Image Courtesy: Canon