ADNOC's suppliers commit to invest $817mln in manufacturing facilities
The announcement was made at the 'Make it in the Emirates' forum currently underway in Abu Dhabi.
The facilities are located across 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) and Umm Al Qaiwain.
They will create more than 3,500 highly skilled private sector jobs and manufacture a wide range of industrial products including pressure vessels, pipe coatings and fasteners.
The facilities have been enabled by commercial agreements ADNOC signed with the companies under its In-Country Value (ICV) programme.
The ICV programme is providing a platform for businesses to capitalise on ADNOC's diverse commercial opportunities as it delivers on its plan to locally manufacture AED90 billion ($24.5 billion) worth of products in its procurement pipeline by 2030.
Yaser Saeed Almazrouei, ADNOC Executive Director, People, Commercial and Corporate Support, said, 'We welcome our partners' commitment to advancing local manufacturing through their investments in these state-of-the-art facilities which will strengthen the UAE's industrial base and create highly skilled private sector jobs. These investments reflect ADNOC's ongoing drive to support the 'Make it in the Emirates' initiative and localise strategic industrial capabilities through our In-Country Value programme. We look forward to working with our partners to ensure business continuity and unlock further opportunities for sustainable growth and economic diversification.'
The facilities include newly operational sites, major expansions and investment commitments. The state-of-the art facilities are aligned with ADNOC's current and future procurement requirements, underscoring its support for the 'Make it in the Emirates' initiative.
The announcement builds on the success of ADNOC's ICV programme, which has driven AED242 billion back into the UAE economy and enabled 17,000 jobs for UAE Nationals in the private sector since 2018.
Manufacturers, small and medium-sized enterprises (SMEs) and entrepreneurs are encouraged to explore the 'Make it with ADNOC' app, which provides businesses with visibility into the products ADNOC plans to purchase, offering a more streamlined and integrated procurement process.
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