Adnoc fortifies UAE economy with localisation

  • Date: 29-Sep-2020
  • Source: Arabian Industry
  • Sector:Economy
  • Country:uae-top-picks
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Adnoc fortifies UAE economy with localisation

Following the news that ADNOC has signed framework agreements with Abu Dhabi's sovereign wealth fund Mubadala Investment Company and Emirates Nuclear Energy Corporation (Enec) to bring the companies into its in-country value (ICV) localisation programme, Indrajit Sen, oil and gas editor at MEED, part of GlobalData, said: “More than two years after Abu Dhabi launched its ICV scheme to increase the amount of local content used in projects in the UAE, ADNOC continues to be the flagbearer of the programme. However, the state-run oil company is now bringing other Abu Dhabi enterprises into the ICV scheme as its partners.“ADNOC's move to link key Abu Dhabi economic stakeholders to its localisation programme will help broaden the reach of the scheme to key segments