ADNOC announced today at the Make it in the Emirates forum the awarding of contracts valued at AED543 million ($147.8 million) to nine of its suppliers for industrial products made locally to be utilized throughout its value chain. These agreements, WAM reported, were facilitated by ADNOC’s In-Country Value (ICV) program and encompass a wide array of products, including personal protective equipment (PPE), chemicals for drilling and production, valves, biodiesel, and corrosion inhibitors.
These contracts aim to enhance the resilience of ADNOC’s supply chain, diminish dependency on imports, and generate additional private sector employment opportunities for Emiratis. ADNOC’s ICV program is establishing a platform for businesses to leverage its diverse commercial prospects as it works towards locally manufacturing AED90 billion ($24.5 billion) worth of products within its procurement pipeline by 2030.
Yaser Saeed Almazrouei, ADNOC executive director, People, Commercial and Corporate Support, stated, “Through these long-term contracts for made-in-the-UAE products, we are turning our business demand for critical industrial products into tangible opportunities that empower manufacturers in the UAE to grow and compete. These awards highlight the attractive commercial opportunities ADNOC is creating for businesses that are ready to ‘Make it in the Emirates’.”
Impact on UAE economy
Moreover, among the manufacturers awarded supplier contracts are Al Ghaith Industries, Union Chlorine LLC, C1 Water Industries LLC, RAK CHEM Industries, and EMOCHEM. These contracts build on the successes of ADNOC’s ICV program, which has reinvested AED242 billion back into the UAE economy and created jobs for 17,000 Emiratis in the private sector since 2018.
At ‘Make it in the Emirates’, which is occurring this week in Abu Dhabi as a premier gateway for investment in the UAE’s industrial ecosystem, ADNOC has been outlining numerous commercial opportunities across its value chain. Also, manufacturers, small and medium-sized enterprises (SMEs), and entrepreneurs are encouraged to explore the ‘Make it with ADNOC’ app, which offers businesses enhanced visibility into the products ADNOC intends to purchase, thereby providing a more streamlined and integrated procurement process.
