Kanoo Energy UAE & ADNOC enter into Local Manufacturing Agreements

 

Kanoo Energy UAE & ADNOC, have signed three agreements for local manufacturing opportunities as part of the ‘Make in Emirates Forum’ being held in Abu Dhabi from 31^st May till 1^st Jun’23.

 

The ‘Make it in the Emirates Forum’, with the theme 'Investment, Sustainability & Growth' is being organized by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Abu Dhabi Department of Economic Development and ADNOC.

 

In addition to showcasing the UAE as a global hub for manufacturing and innovation, the Forum seeks to promote sustainability, as well asreduce and eliminate carbon emissions within the industrial sector in line with objectives of the ‘Year of Sustainability’, the UAE's Net Zero by 2050 strategic initiative, and its preparations to host COP28.

 

The agreements entered between Kanoo Energy & ADNOC outline the intention of the companies to explore manufacturing Valves, Flanges and Establishment of Reverse Engineering facility in the UAE, supporting the ‘Make it in the Emirates’ initiative and the ‘Abu Dhabi Industrial Strategy.’ The products are part of the $19 billion worth of products in ADNOC’s procurement pipeline identified for domestic manufacturing in July 2022.

 

The agreements were signed by Mr. Fahad Kanoo, CEO UAE & Oman and Dr. Saleh Al Hashimi, ADNOC Director, Commercial & In-Country Value Directorate. Also in attendance of the signing ceremony from Kanoo Energy side included Mr. Manoj Kumar Tripathy (CEO- Kanoo Industrial & Energy), Mr. Hesham Nass (Country Manager- UAE, The Kanoo Group), Mr. Raman Marwaha (General Manager -Kanoo Energy UAE & Oman) and Mr. Abdullatif Kanoo (Business Development Manager-The Kanoo Group).

 

Last year, ADNOC signed agreements for local manufacturing commitments worth more than $6.8 billion with UAE and international companies. ADNOC continues to take a transparent approach to showcasing its product outlook as part of its ICV program. This approach underscores ADNOC’s efforts to ensure business continuity and incentivize investors and suppliers to set up or expand manufacturing capacity in the UAE. ADNOC aims to drive $48 B back into the UAE economy through its ICV program as part of its 5-yr business plan for 2023–2027.