Anonymous ID: a609de Feb. 21, 2024, 11:31 a.m. No.20452562   🗄️.is 🔗kun   >>2622

UAE’s EDGE Group and Italian shipbuilder Fincantieri stand up $32 billion JV

 

BEIRUT and BELFAST — Emirati defense conglomerate EDGE Group has entered a joint venture (JV) today with Italian shipbuilder Fincantieri, worth up to €30 billion ($32 billion), putting the Middle East industry giant on track to produce Fincantieri’s vessels in Abu Dhabi for non-NATO countries.

 

Holding a 51 percent stake in the JV, EDGE will contribute to the new alliance with “subsystems, G2G [government to government], commercial pipeline and financing for large deals,” an EDGE Group spokesperson told Breaking Defense. Fincantieri will provide management and guidance, according to the firm’s statement.

 

“The Abu Dhabi-based JV will be awarded prime rights to non-NATO orders, especially leveraging on the attractiveness of UAE G2G arrangements and export credit financing packages, along with a number of strategic orders placed by select NATO member countries,” EDGE Group said in a statement.

 

The EDGE Group spokesperson told Breaking Defense that the JV will also cooperate with “some NATO strategic countries.”

 

In 2023, EDGE Group signed a deal with the Angolan Navy worth €1 billion ($1.1 billion) to build Angola’s fleet of 71-meter corvettes in Abu Dhabi Ship Building shipyards. Previously, the Emirati conglomerate had only one shipbuilding firm, Abu Dhabi Ship Building, but the partnership with Fincantieri constitutes a large leap in its naval development programs and ambitions.

 

“This strategic agreement significantly enhances EDGE’s ability to design and build frigates and other large vessels, broadening its range of operations and marking a crucial advancement in the diversification of its maritime solutions portfolio,” according to the firm’s statement.

 

The statement added that the JV will help the Emirati firm develop an underwater program for mid-size submarines.

 

https://breakingdefense.com/2024/02/uaes-edge-group-and-italian-shipbuilder-fincantieri-stand-up-32-billion-jv/

Anonymous ID: a609de Feb. 21, 2024, 11:35 a.m. No.20452581   🗄️.is 🔗kun   >>2658

BREAKING: Mobile dog with a box stuck on his head for months is free at last!

 

“There was a dog in Mobile, Alabama that had a box trapped on its head for almost a YEAR,” Miller wrote. “Traps didn’t work because the box was too big.

 

“Well today, the amazing team from BOTH The City of Mobile Animal Services and Mobile County Animal Shelter came together and we got the box off the dogs head!”

 

https://www.wkrg.com/mobile-county/breaking-mobile-dog-with-a-box-stuck-on-his-head-for-months-is-free-at-last/