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ADNOC signs agreement with TARGET for local fabrication

Industry

TARGET, a leading Oil & Gas and Marine construction company based in Abu Dhabi, is one of 25 local manufacturers to have signed a Strategic Collaboration Agreement (SCA) with ADNOC, to help it procure AED70bn (US$19.1bn) worth of industrial products from UAE-based manufacturers by 2027

The agreement with TARGET is the latest in a series of local manufacturing agreements the company has signed for the Make it in the Emirates campaign, which aims to boost the UAE’s industrial growth and create long-term domestic manufacturing opportunities for the private sector. ADNOC has dedicated AED20bn (US$5.45bn) to local fabrication yards from 2023 to 2028, which will not only bolster and diversify the UAE’s economy, but also ensure that ADNOC has a resilient and sustainable supply chain.

Under the Agreement, TARGET will serve as a steel fabricator of a range of steel structural products for ADNOC for use in ADNOC’s EPC projects, and the energy provider has committed to making local manufacturers the exclusive suppliers of all its steel fabrication needs.

ADNOC’s director, Commercial and In-Country Value, Dr Saleh Al Hashmi, said, “We are proud to spearhead the localisation of manufacturing in the UAE and generate a sustainable supply chain through our partnerships with valued local suppliers like TARGET. Our commitment to Make It in the Emirates is increasing opportunities for the local industrial sector and raising the capabilities of local suppliers, which is crucial to securing a diversified, circular economy.”