ADNOC signs strategic collaboration agreement with TARGET

By Shilpa Annie Joseph, Official Reporter
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Officials during the signing ceremony.

Abu Dhabi-based TARGET is one of 25 local manufacturers that have signed a Strategic Collaboration Agreement (SCA) with Abu Dhabi National Oil Company (ADNOC) to support the energy group in its vision to procure $19 billion (AED70 billion) worth of industrial products from UAE-based manufacturers by 2027.

Under the agreement, TARGET will serve as a Steel Fabricator of a range of steel structural products for ADNOC. These products are essential to a wide range of ADNOC’s EPC projects, and the energy provider has committed to making local manufacturers the exclusive suppliers of all its steel fabrication needs.

ADNOC’s SCA with TARGET is the latest in a series of local manufacturing agreements the company has signed for the Make it in the Emirates campaign, which aims to boost the UAE’s industrial growth and create long-term domestic manufacturing opportunities for the private sector.

Dr. Saleh Al Hashmi_ADNOC signs deal for local manufacturing opportunities
Dr. Saleh Al Hashmi
Commercial & In-Country Value

“We are proud to spearhead the localization of manufacturing in the UAE and generate a sustainable supply chain through our partnerships with valued local suppliers like TARGET. Our commitment to Make It in the Emirates is increasing opportunities for the local industrial sector and raising the capabilities of local suppliers, which is crucial to securing a diversified, circular economy. Sourcing our most critical industrial products locally is consistent with our vision to reduce carbon emissions through a more sustainable and efficient supply chain. Our close proximity to TARGET will also ensure rapid and effective feedback loops, yielding higher quality products that not only meet ADNOC’s needs but also those of the country and region as a whole.”

Further, TARGET’s SCA with ADNOC is a significant endorsement of the organization’s capabilities and will help the company expand its market penetration, both in the UAE and across the broader Middle East region.

Mr. Chaouci Yassine, CEO at TARGET, said that, “As a long-standing partner to ADNOC, we would like to extend our thanks to the company’s leadership for their trust and continued support. The SCA with ADNOC paves the way for the ALEC Group to further its mission of being a trusted partner for the region’s largest and most iconic projects.”

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