Abu Dhabi Ship Building, which is part of defence conglomerate Edge, secured a Dh3.5 billion ($950 million) contract to build new patrol vessels for the UAE Navy.
The contract is the biggest order ever received by ADSB and covers the building of four Falaj-3 Offshore Patrol Vessels. The company did not give a timeline for delivery.
“This order represents a resounding vote of confidence in ADSB from the MOD (Ministry of Defence) and the UAE Navy,” Khalid Al Breiki, chairman of ADSB and president of mission support at Edge, said.
“The contract will provide the company with a platform for sustainable profitable growth, while maintaining strategic national assets that are critical to the defence of the UAE.”
ADSB, listed on the Abu Dhabi Securities Exchange, manufactures corvettes, offshore patrol vessels and fast patrol boats. It also offers a full range of maintenance, repair and refit, upgrade and conversion of vessels.
“This contract underscores our mutual commitment to serving the UAE navy with the right products and advanced shipping solutions – to enable a secure future,” David Massey, chief executive of ADSB, said. “We look forward to expanding and enhancing our portfolio of vessels.”
The company is also looking to export its vessels to different markets to boost its revenue, Mr Massey told The National in an interview at the Idex and Navdex exhibition earlier this year. It will target markets bordering the Indian Ocean to sell its vessels.
“ADSB has only exported to GCC countries till now and we are going beyond GCC to East Africa, North Africa and the Indian Ocean,” Mr Massey said at the time.
ADSB is one of 25 entities that make up Edge – a defence conglomerate formed in 2019 that specialises in developing advanced technology for weapons systems, cyber protection and electronic warfare.
Last week, the company declared a net loss of Dh15.7m in the three months to March 31 on revenue of Dh56.9m, which it said was due to one-off costs associated with the biennial Navdex exhibition and rental payments on a floating dock. However, since the quarter ended, the dock was sold for Dh34.5m, on which the company stands to make a Dh17.5m gain.
"The disposal will save a significant sum in rental payments and contribute to an improved financial performance in the remainder of 2021 and onwards," ADSB said in a statement accompanying its results.
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Health Valley
Founded in 2002 and set up as a foundation in 2006, Health Valley has been an innovation in healthcare for more than 10 years in Nijmegen, the Netherlands.
It serves as a place where companies, businesses, universities, healthcare providers and government agencies can collaborate, offering a platform where they can connect and work together on healthcare innovation.
Its partners work on technological innovation, new forms of diagnostics and other methods to make a difference in healthcare.
Its agency consists of eight people, four innovation managers and office managers, two communication advisers and one director. It gives innovation support to businesses and other parties in its network like a broker, connecting people with the right organisation to help them further
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EEducatly%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EMohmmed%20El%20Sonbaty%2C%20Joan%20Manuel%20and%20Abdelrahman%20Ayman%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3EEducation%20technology%3Cbr%3E%3Cstrong%3EFunding%20size%3A%20%3C%2Fstrong%3E%242%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EEnterprise%20Ireland%2C%20Egypt%20venture%2C%20Plus%20VC%2C%20HBAN%2C%20Falak%20Startups%3C%2Fp%3E%0A
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Haemoglobin disorders explained
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
