{"id":66934,"date":"2024-05-20T17:29:32","date_gmt":"2024-05-20T17:29:32","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2024\/05\/20\/uae-buys-patrol-vessels-from-edge-group-fincantieri-joint-venture\/"},"modified":"2026-08-08T00:58:29","modified_gmt":"2026-08-08T00:58:29","slug":"uae-buys-patrol-vessels-from-edge-group-fincantieri-joint-venture","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2024\/05\/20\/uae-buys-patrol-vessels-from-edge-group-fincantieri-joint-venture\/","title":{"rendered":"UAE buys patrol vessels from Edge Group, Fincantieri joint venture"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">ROME \u2014 The United Arab Emirates\u2019 coast guard has signed a \u20ac400 million (U.S. $435 million) deal to acquire 10 <a href=\"https:\/\/www.defensenews.com\/naval\/2024\/03\/29\/fincantieri-inks-13b-deal-with-indonesia-for-two-patrol-ships\/\" target=\"_blank\">offshore patrol vessels<\/a> from both a domestic defense conglomerate and an Italian shipbuilder, the companies announced Monday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The deal follows the <a href=\"https:\/\/www.defensenews.com\/industry\/2024\/02\/21\/fincantieri-teams-with-edge-to-sell-to-non-nato-countries\/\" target=\"_blank\">creation of a joint venture<\/a> in February between the UAE\u2019s Edge Group and Italy\u2019s Fincantieri.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The companies will produce the 51-meter-long vessels as upgraded versions of Saettia-class ships, a type Fincantieri previously supplied to the Italian coast guard.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Edge Group holds a 51% stake in the joint venture, dubbed Maestral, but is leaning on Fincantieri\u2019s shipbuilding expertise. The firms announced in February that they would market vessels to non-NATO countries.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn just three months since first announcing the creation of this unique venture with Fincantieri, we are now announcing a significant national order for these sophisticated OPVs, to be built both here at our shipyards in Abu Dhabi, and in Italy,\u201d said Faisal Al Bannai, who chairs Edge Group\u2019s board of directors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The deal reflects Fincantieri\u2019s policy of collaborating with overseas partners on the local assembly of vessels, but based on its own designs, in order to secure export orders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt\u2019s a win-win deal,\u201d said Matteo Perego di Cremnago, Italy\u2019s junior defense minister. The partnership, he added, includes \u201cthe transfer of know-how and technology.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When it was first announced in February, the firms said their joint venture would aim to sell vessels to countries by leveraging the UAE\u2019s background in government-to-government deals as well as its export credit financing packages.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The firms said they would also seek to co-develop midsize submarines.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">State-controlled Fincantieri is Italy\u2019s main naval contractor and is also <a href=\"https:\/\/www.defensenews.com\/naval\/2020\/05\/05\/5-things-you-should-know-about-the-us-navys-new-frigate\/\" target=\"_blank\">building FREMM frigates for the U.S. Navy<\/a> at its American yard.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><i>Correction: A previous version of this story included an erroneous headline. The United Arab Emirates is the customer for the offshore patrol vessels.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The $435 million deal is for 10 offshore patrol vessels based on upgraded versions of Saettia-class 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