ADNOC Partners to Invest AED3 Billion in UAE Manufacturing Facilities
ADNOC has revealed that its partners in the supply chain are set to invest AED3 billion (approximately $817 million) into the establishment of manufacturing facilities throughout the UAE. This announcement was made during the ongoing ‘Make it in the Emirates’ forum in Abu Dhabi.
Key Details of the Investment
- Total Investment: AED3 billion (~$817 million)
- Jobs Created: Over 3,500 skilled positions
- Support Initiative: Backed by ADNOC’s In-Country Value (ICV) program
- Goal: Produce AED90 billion (~$24.52 billion) in goods by 2030
Locations of New Facilities
The new facilities will be established in several key industrial areas including:
- Industrial City of Abu Dhabi (ICAD)
- Khalifa Economic Zones Abu Dhabi (KEZAD)
- Dubai Industrial Park
- Jebel Ali Free Zone (JAFZA)
- Sharjah Airport International Free Zone (SAIF Zone)
- Umm Al Quwain
These sites will facilitate the production of various industrial products such as pressure vessels, pipe coatings, and fasteners.
Strategic Framework
The development of these facilities is supported by commercial agreements that ADNOC has signed with partner companies as part of its ICV program. This program is designed to create a foundation for businesses to leverage ADNOC’s diverse commercial prospects while fulfilling the goal of local production of AED90 billion ($24.5 billion) in goods by 2030.
Leadership Insight
Yaser Saeed Almazrouei, Executive Director at ADNOC for People, Commercial, and Corporate Support, stated: “We appreciate our partners’ commitment to enhancing local manufacturing with their investments in these advanced facilities, which will bolster the UAE’s industrial sector and generate high-skilled jobs. These investments demonstrate ADNOC’s continued effort to support the ‘Make it in the Emirates’ initiative and to localize essential industrial capabilities through our ICV program. We look forward to collaborating with our partners to ensure consistent business operations and discover further opportunities for sustainable growth and economic diversification.”
Overview of the Manufacturing Facilities
The new manufacturing facilities comprise recently operational sites, significant expansions, and future investment commitments. They are designed to meet both current and impending procurement needs of ADNOC, emphasizing the company’s endorsement of the ‘Make it in the Emirates’ initiative.
Ongoing Success
This announcement is part of ADNOC’s ICV program achievements, which has contributed AED242 billion back to the UAE economy and facilitated the creation of 17,000 jobs for UAE Nationals in the private sector since 2018. Manufacturers, small and medium businesses, and entrepreneurs are encouraged to use the ‘Make it with ADNOC’ application, which offers insights into potential purchases by ADNOC, streamlining the procurement process for businesses.