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United Arab Emirates’ state-owned defence conglomerate, EDGE Group, has signed a new joint venture agreement with Spanish information technology and defence company Indra Sistemas.
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Under the new agreement, the new Abu Dhabi-based joint venture (JV) will develop and manufacture almost 300 next-generation radar systems for air, land, and sea in the UAE.
In addition, the new business will be granted prime rights for current and future non-NATO and non-EU orders awarded to Indra.
The arrangement was signed by EDGE managing director and chief executive officer Hamad Al Marar and Indra chief executive officer Jose de los Mozos in Madrid at the Ministry of Defence and announced on 4 March.
“This new joint venture with one of Europe’s top three defence technology players in this sector will enable EDGE, in partnership with Indra, to significantly expand and diversify the scope of its offerings through knowledge sharing and the development and manufacture of advanced radar systems to customers around the world,” Al Marar said.
“In line with our strategy for growth through mutually beneficial partnerships, we are fully committed to this venture, which will be built on both companies’ existing reputation for excellence and which will enable us to combine our strengths to drive innovation, develop sovereign capabilities, and expand market reach while contributing to the technological advancement and economic growth of the UAE and Spain.”
The agreement is expected to give the new Abu Dhabi-based joint venture access to non-NATO, non-EU orders and significantly expand its capabilities in the advanced radar solutions business for air, land, and sea.
The joint venture will also focus on employing a team of highly qualified personnel in the UAE, particularly in sales and engineering roles, by leveraging local Emirati, as well as global talent, ensuring sustainable operational excellence and innovative output.
“The JV between Indra and EDGE Group will be recognised for its capacity for innovation and the use of the most sophisticated technologies,” said de los Mozos.
“This JV will help us to expand our geographical reach and our international mindset in our defence business and will increase our proximity to the global clients.
“We in Indra are convinced that this JV will create new significant business opportunities in new markets.
“This agreement is one more asset of the industrial and strategic plan ‘Leading the Future’ that will be presented on March 6th, a decisive strategic transformation milestone for Indra.”
