UAE Minister of State and the Abu Dhabi National Oil Company Group (Adnoc) CEO Sultan Ahmed Al Jaber poses during an interview at the Adnoc headquarters in Abu Dhabi in this file picture taken on December 10, 2019. — Reuters pic
Tuesday, 21 Jun 2022 4:11 PM MYT
DUBAI, June 21 — Abu Dhabi National Oil company (Adnoc) said today it had identified 70 billion dirhams (RM83 billion) worth of products in its procurement pipeline that could be manufactured locally.
Of the total, Adnoc signed agreements for local manufacturing opportunities worth 21 billion dirhams with UAE and international companies at the Make it in the Emirates Forum taking place in Abu Dhabi.
The local opportunities include over 100 products to be utilised across Adnoc’s full value chain as it expands its operations to cater for growing global energy demand, the company said.
Adnoc aims to purchase these products between 2022 and 2023.
Minister of Industry and Advanced Technology Sultan al-Jaber, who is also Adnoc chief, announced at the same forum that national firms would allocate 110 billion dirhams in potential purchase agreements for local manufacturers.
Jaber said the move would add at least 6 bln dirhams annually to the GDP. — Reuters