Make it in the Emirates wrapped yesterday after a four-day run that saw AED 11 bn worth of industrial projects, AED bns worth of financing agreements, and plenty of smart manufacturing and tech-focused partnerships. Some AED 7.8 bn offtake agreements were also inked, state news agency Wam reports. The highlights from the final day:

FINANCING-

#1- FAB allocates additional AED 5 bn for industrial sector under renewed partnership: First Abu Dhabi Bank has renewed a 2023 agreement with the Industry and Advanced Technology Ministry, pledging an additional AED 5 bn in financing for industrial projects, Wam reports. The new funding targets startups, SMEs, and large manufacturers, prioritizing projects focused on advanced technology adoption, sustainability, and innovation.

The new commitment brings its total committed funds for the sector to AED 10 bn, and comes as part of some AED 40 bn in financing for the sector pledged by UAE banks over the next five years. Our friends at Mashreq have also committed a total of AED 2 bn to the sector as part of a partnership with the ministry.

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#2- Adib pledges industrial and tech sector financing: Abu Dhabi Islamic Bank (Adib) also inked an agreement with the Industry and Advanced Technology Ministry to provide shariah-compliant financing for industrial and technology projects, according to a press release. The funds will go towards small and medium enterprises to help support business expansion.

#3- EBD and Rakbank earmark AED 1 bn for mSMEs: Emirates Development Bank (EBD) and the National Bank of Ras Al Khaimah (Rakbank) announced a strategic co-financing partnership to pour some AED 1 bn into micro, small, and medium enterprises (mSMEs) in the UAE, Al Khaleej reports. The collaboration will focus primarily on critical growth sectors including manufacturing, food security, renewables, healthcare, and advanced technology.

This is the latest funding support for SMEs, with Emirates Growth Fund (EFG) recently announcing an AED 1 bn equity fund for Emirati SMEs. The equity fund is also focusing on priority sectors like healthcare, tech and manufacturing.

EVs-

ROX Motors, W Motors to localize EV production in Abu Dhabi: Chinese electric vehicle brand ROX Motors has signed an MoU with Dubai-based W Motors, a strategic partner of EV manufacturer NWTN Motors, to produce its ROX 01 model in Abu Dhabi, according to a statement. The agreement marks Rox Motors’ first manufacturing base outside China, according to a separate press release.

ALSO- ROX has signed partnerships with renewables outfit Enercap to develop high-performance battery systems, it said on LinkedIn here, and with Abu Dhabi-based Borouge on R&D for polyolefin-based automotive materials.

HEALTHCARE-

Borouge, Mubadala Bio sign medical manufacturing MoU: Adnoc petrochemicals JV Borouge signed a strategic agreement with Mubadala’s new pharma arm, Mubadala Bio, to explore the supply of polyolefin materials for the local manufacturing of medical products, according to a press release. Borouge’s Bormed RG868MO — used in syringes, inhalers, and pharma packaging — is already in production at its Ruwais facility, marking the first time the product has been locally manufactured for healthcare use. A second medical-grade product is expected to launch by year-end.

ICYMI- Mubadala Investment Company launched Mubadala Bio earlier this week as a new pharma company to expand the UAE’s drug manufacturing base and improve access to essential medicines and devices. Its portfolio includes 10 production sites across Asia, Africa, and Europe — including six in the UAE — with a combined annual output capacity of 2.5 bn tablets and 120 mn injectable units.

#2- Dubai Investments subsidiary Globalpharma signed four MoUs with international firms for the local manufacturing of products and exports abroad, according to a press release (pdf). The MoUs include:

  • An agreement with Jordan’s PharmaPrimes Laboratories to establish facilities in the Emirates for batch release testing and analysis of biosimilar drugs, targeting GCC-wide distribution;
  • An agreement with Egypt’s Nerhadou on nutraceutical and over-the-counter products for the UAE;
  • An agreement with Spain’s Aora Health to co-develop and locally manufacture preventive health supplements to be distributed across the UAE and MENA;

It also inked a licensing agreement with Canada’s BioSyent Pharma to market FeraMAX, a patented iron supplement, in the UAE.

OIL AND GAS-

Adnoc awards AED 543 mn in local manufacturing contracts: Adnoc has awarded AED 543 mn in contracts to nine homegrown suppliers of locally manufactured industrial products, according to a press release. The contracts cover protective equipment, drilling chemicals, valves, biodiesel, and corrosion inhibitors, and aim to reduce reliance on imports.

ALSO- Adnoc's supply chain partners will invest AED 3 bn in manufacturing facilities across six UAE industrial zones, including Industrial City of Abu Dhabi, Khalifa Economic Zones, and Jebel Ali FreeZone, according to a press release. The facilities will produce pressure vessels, pipe coatings, and fasteners, creating over 3.5k private-sector jobs.

IN CONTEXT- The agreements fall under Adnoc's in country value (ICV) program, which aims to locally manufacture AED 90 bn worth of products by 2030. Adnoc is also planning to channel AED 200 bn into the UAE economy through its ICV program by 2030. Adnoc inked AED 6 bn in framework agreements with 12 UAE-based manufacturers to locally produce pressure vessels and cables earlier this week at the forum.

RENEWABLES EQUIPMENT-

Energy solutions firm Broaden Energy is developing a AED 455 mn manufacturing facility in Kezad Al Mamourah under a 50-year land ownership agreement, according to a statement. It’s not clear what the facility will produce, but the statement mentioned “sustainable solutions using hydrogen, solar, and wind energy.” The project will cover some 80k sqm and create some 1k jobs. The pair signed an agreement six months ago to explore sustainable energy solutions.

A step forward for a bigger project? The project would likely act as the first phase of Broaden Energy’s AED 1 bn hydrogen equipment manufacturing complex. The Abu Dhabi Department of Economic Development inked an MoU with the company last year.

LOGISTICS-

Aldar breaks ground on ESF cold storage facility in Dubai South: Real estate developer Aldar has begun construction on a cold storage and distribution facility for Emirates Snack Foods (ESF) in Dubai South’s Logistics District, according to a press release (pdf). The 20k sqm facility will house ESF’s cold chain operations, corporate office, and inventory management systems under one roof.

DEFENSE-

Edge’s Trust, SME to co-develop land systems equipment in UAE: Trust, a subsidiary of Edge Group, has signed an MoU with South Africa-based Specialist Mechanical Engineers (SME) to jointly design, develop, and manufacture specialized land systems equipment within the UAE, according to a statement. The agreement covers auxiliary power units, air conditioning units, and other complex mechanical systems.

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