Abu Dhabi-based sovereign investor Mubadala Investment Company has signed a Memorandum of Understanding (MoU) with the Italian shipbuilder Fincantieri to collaborate in the field of advanced technologies and services in the naval, marine, and industrial sectors.
According to the statement, “The two groups will work together through specialized subsidiaries to jointly advance a number of leading innovation and industrial projects.” Mubadala will also provide after-sales services for Fincantieri through its subsidiary Sanad.
In addition, research will be conducted in accordance with the circular economy to explore new areas of partnership, such as the development of integrated industrial services for waste transformation platforms for small and medium commercial and industrial facilities.
Abdulla Abdul Aziz Al Shamsi Head – UAE New Initiatives Mubadala
“As a responsible long-term investor and an active player in the global energy transition sector, Mubadala has long pioneered and championed a balanced energy mix through a holistic and diversified energy portfolio in the UAE and abroad. Through this agreement, we are committed to advancing the role innovation in energy technologies can play to meet future energy demand with our partners at Fincantieri, and other technology developers, operating companies, and like-minded organizations.”
Mr. Giuseppe Bono, CEO of Fincantieri commented, “This is a first step to strengthen our presence in the UAE, and is a demonstration of the great versatility of our Group, which today is able to offer unique management skills and technologies in the Naval, Maritime and Industrial sectors.”
“Thanks to this agreement we will leverage our mutual know-how and investment capabilities to identify projects of common interest in the UAE and contribute to the development of the country’s advanced fields of technologies,” Mr. Bono further added.
