Abu Dhabi National Oil Company (ADNOC) has announced that it has signed framework agreements worth AED6 billion ($1.64 billion) with 12 UAE-based firms for making of critical industrial equipment in the country, supporting the ‘Make it in the Emirates’ initiative.
The long-term agreements are for the manufacturing of cables and pressure vessels.
These include nine companies for 10 types of pressure vessels. They are: ADOS Engineering Industries, Arabian Industries, Berg Industries, Euro Mechanical & Electrical Contracting Company, Metalfab Middle East, Micoda Process Systems International Company, Nash Engineering FZCO, Polar Specialized Industries (PSI), and United Metal Works Est. Factory Abu Dhabi.
The deal was also inked with three companies for four types of cables. The cable manufacturers are: Dubai Cable Co. (PVT) Ltd, Mark Cables and National Cable Industry.
According to ADNOC, they will potentially create up to 1,300 skilled private-sector jobs, ensure availability of these equipment across its value chain, cut delivery times and mitigate global supply chain risks, it stated.
The framework agreements will accelerate investment across industrial zones in Abu Dhabi, Dubai and the Northern Emirates, deepening the impact of ADNOC’s In-Country Value (ICV) programme in boosting UAE manufacturing capacity, building a more resilient industrial base and enhancing business continuity.
The signing of the agreements was witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO at the ‘Make it in the Emirates’ forum currently taking place in Abu Dhabi.
Yaser Saeed Almazrouei, ADNOC Executive Director, People, Commercial and Corporate Support, said: "These frameworks agreements to manufacture pressure vessels and cables in the UAE highlight ADNOC’s success in strengthening the resilience of our supply chain, expanding the UAE’s manufacturing base and creating jobs in the private sector through our In-Country Value programme."
"We are providing greater visibility into the products we intend to purchase locally and we encourage businesses to capitalise on ADNOC’s huge pipeline of local manufacturing opportunities through the Make it with ADNOC app to enhance business continuity and create long-term sustainable value," he stated.
The companies within the framework agreements are located across key industrial zones, including Industrial City of Abu Dhabi (ICAD), Khalifa Economic Zones Abu Dhabi (KEZAD), Dubai Industrial Park, Jebel Ali Free Zone (Jafza), and industrial areas in Sharjah and Umm Al Quwain.
This highlights ADNOC’s commitment to enabling balanced industrial growth across the UAE and ensuring that the benefits of localisation are shared nationwide, it stated.
ADNOC said it plans to purchase AED90 billion ($24.5 billion) worth of locally manufactured products in its procurement pipeline by 2030.
The company’s ICV programme has driven AED242 billion ($65.9 billion) back into the UAE economy and enabled 17,000 Emiratis to be employed in the private sector since 2018.
As part of ADNOC’s ICV programme, the company aims to drive AED200 billion ($54.5 billion) into the UAE economy over the next five years.-TradeArabia News Service
