Today's Edition
ABU DHABI (WAM)
ADNOC announced on Monday at the “Make it in the Emirates” forum an increase in its local manufacturing target for critical industrial products in its procurement pipeline to Dh90 billion ($24.5 billion) by 2030 to propel UAE’s economic diversification, strengthen the industrial sector and expand local manufacturing capabilities.
The new target is part of ADNOC’s expanded In-Country Value (ICV) programme which aims to drive an additional Dh178 billion ($49 billion) back into the UAE economy by 2028.
ADNOC’s previous 2027 target for local manufacturing of Dh70 billion ($19 billion) worth of products was delivered ahead of schedule following the award of two contracts for metal pipes and valves worth Dh16.8 billion ($4.6 billion) to local manufacturers.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), said, "In line with the wise directives of the UAE leadership, ADNOC continues to play a pivotal role in enabling economic, social, and industrial growth in the UAE. Since the launch of ADNOC's In-Country Value programme in 2018, we have successfully collaborated with strategic partners to transform this initiative into an integrated national economic programme to boost the UAE’s economic development.
“Having successfully delivered on our target to create Dh70 billion in local manufacturing opportunities ahead of schedule, ADNOC is now boosting its local manufacturing target to Dh90 billion to strengthen the UAE’s industrial sector. This expanded initiative will support the UAE’s economic diversification, attract local and international investors, and provide high-skilled private sector jobs for UAE Nationals.
"Additionally, it will stimulate entrepreneurial growth and drive sustainability in ADNOC’s supply chain. We invite local and international manufacturers to take advantage of our ICV programme and participate in the UAE’s industrial growth journey.”
The contracts include Dh8.8 billion ($2.4 billion) for metal pipes to PM Piping Petroleum Equipment, Ajmal Steel, and the Emirati-owned Al Gharbia Pipe Company; and Dh8 billion ($2.2 billion) for mechanical valves to Samamat, Camtech Manufacturing, Tisco Valves Manufacturing, PTPA, MT Valves and Industries.
ADNOC’s expanded ICV programme will provide a dedicated micro, small and medium enterprises (MSMEs) accelerator programme to enable Emirati businesses and local mSMEs to conduct business across ADNOC’s supply chain.
The programme will also introduce incentives to embed sustainability in local supply chains by encouraging investors to adopt clean technologies and best-in-class environmental, social, and governance (ESG) practices.
It will accelerate the adoption of artificial intelligence (AI) in ADNOC’s supply chain and enable micro, small and medium enterprises (MSMEs) to participate in strengthening the resilience of the UAE’s industrial base.
Since the launch of “Make it in the Emirates” in 2021, ADNOC has more than tripled its direct spend with local manufacturers for industrial products within its procurement pipeline.
The company has driven Dh187 billion ($51 billion) back into the UAE economy since 2018, through its ICV programme. ADNOC’s ICV programme has also created 11,500 job opportunities for Emirati talents in the private sector in collaboration with strategic partners such as the NAFIS programme.
Through the programme, contracts worth Dh22.4 billion ($6.1 billion) were awarded to Emirati-owned small and medium enterprises (SMEs), across 600 companies.
