ADNOC Identifies $19 Billion Worth of Products that Could Be Manufactured Locally

ADNOC Identifies $19 Billion Worth of Products that Could Be Manufactured Locally

Abu Dhabi National Oil Company (ADNOC) announced on Tuesday it has identified AED70 billion ($19 billion) worth of products in its procurement pipeline that could be manufactured locally.

Out of this value, ADNOC signed agreements for local manufacturing opportunities worth AED21 billion ($5.7 billion) with UAE and international companies.

The agreements, which were signed at the "Make it in the Emirates Forum" taking place in Abu Dhabi, will see the companies set up and expand manufacturing facilities in the UAE as well as jointly explore with ADNOC the potential for new investments in local manufacturing.