Dr Sultan bin Ahmed Al Jaber, ADNOC’s group CEO and Minister of Industry and Advanced Technology (MoIAT), announced more than 30 innovative industrial projects worth more than $1.6 billion during the second edition of the Make it in the Emirates Forum, which is being held under the theme of “Investment. Sustainability. Growth”.
“These projects include pioneering initiatives such as setting up the first hydrogen electrolyser plant in the UAE,” Al Jaber said.
During his address to one of the region’s most prominent industry events, Dr. Al Jaber announced an additional $2.7 billion of offtake agreements in the UAE’s industrial sector, building on the previous forum’s procurement opportunities, taking the total value of products targeted for localisation to a whopping $32 billion.
ADNOC will also allocate over AED20 billion for the purchase of structures and metal products from national companies, the forum heard. It was also announced that MoIAT will adopt a new standard within the National In-Country Value Programme called Green ICV, to encourage sustainability practices and motivate companies to reduce emissions.
Dr Al Jaber noted that during the forum, competitive financing solutions will be announced for the industrial sector, including AED 5 billion from First Abu Dhabi Bank and AED 1 billion from Mashreq Bank.
He also announced the provision of 5,000 sustainable job opportunities for UAE nationals in the industrial sector through the Industrialist Programme that has been supported by Nafis and the Ministry of Human Resources & Emiratisation.