The Abu Dhabi National Oil Co. (ADNOC) has announced plans to increase its local manufacturing target for critical industrial products to 90 billion dirhams ($24.5 billion) by 2030, aiming to strengthen the UAE’s industrial sector. This new goal, revealed at the “Make it in the Emirates” forum, is part of ADNOC’s expanded In-Country Value (ICV) program, which seeks to drive an additional 178 billion dirhams back into the UAE economy by 2028. Sultan Ahmed Al-Jaber, the UAE minister of industry and advanced technology, and ADNOC managing director and group CEO, emphasized that this initiative will support economic diversification, attract local and international investors, create high-skilled private sector jobs for UAE nationals, and enhance sustainability in ADNOC’s supply chain.
ADNOC highlighted its achievement of surpassing its previous 2027 target of 70 billion dirhams ahead of schedule, following the award of two significant contracts for metal pipes and valves worth 16.8 billion dirhams to local manufacturers. The contracts include 8.8 billion dirhams for metal pipes to PM Piping Petroleum Equipment, Ajmal Steel, and Al Gharbia Pipe Co., and 8 billion dirhams for mechanical valves to companies such as Samamat, Camtech Manufacturing, and Tisco Valves Manufacturing. The expanded ICV program also aims to provide an accelerator program for micro, small, and medium enterprises (mSMEs) to facilitate Emirati businesses’ participation across ADNOC’s supply chain.