ADNOC awards contracts worth AED 543mln for Made-in-UAE products
Agreements support the 'Make it in the Emirates' initiative and reduce reliance on imports and create more private-sector jobs for Emiratis
Private sector encouraged to capitalize on ADNOC's diverse commercial opportunities and expand manufacturing in the UAE
Abu Dhabi, UAE – ADNOC announced today at the 'Make it in the Emirates' forum the award of contracts valued at AED543 million ($147.8 million) to nine of its suppliers for locally made industrial products to be used across its value chain.
The agreements were enabled by ADNOC's In-Country Value (ICV) program and span a diverse range of products. These include personal protective equipment (PPE), chemicals for drilling and production, valves, biodiesel and corrosion inhibitors. The agreements will strengthen the resilience of ADNOC's supply chain, reduce reliance on imports and create more private sector jobs for Emiratis.
ADNOC's ICV program is providing a platform for businesses to capitalize on its 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: 'Through these long-term contracts for made-in-the-UAE products, we are turning our business demand for critical industrial products into tangible opportunities that empower manufacturers in the UAE to grow and compete. These awards highlight the attractive commercial opportunities ADNOC is creating for businesses that are ready to 'Make it in the Emirates'.'
Al Ghaith Industries, Union Chlorine LLC, C1 Water Industries LLC, RAK CHEM Industries and EMOCHEM are among the manufacturers awarded supplier contracts. The contracts build on the success of ADNOC's ICV program, which has driven AED242 billion back into the UAE economy and enabled jobs for 17,000 Emiratis in the private sector since 2018.
At 'Make it in the Emirates', which is taking place this week in Abu Dhabi as a premier gateway to invest in the UAE's industrial ecosystem, ADNOC has been detailing numerous commercial opportunities across its value chain.
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 products ADNOC plans to purchase, offering a more streamlined and integrated procurement process.
About ADNOC
ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC's objective is to maximize the value of the Emirate's vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates' economic growth and diversification. To find out more, visit: www.adnoc.ae
For media inquiries, please contact: media@adnoc.ae
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