DUBAI, May 18 (Reuters) - The United Arab Emirates has
signed a 3.5 billion dirham ($950 million) contract with Abu
Dhabi Ship Building (ADSB) to manufacture four new
patrol vessels for the Gulf Arab state's navy, ADSB said on
The Falaj 3-class Offshore Patrol Vessel contract was ADSB's
largest ever order, which Chief Executive David Massey said gave
it a sustainable and profitable future for the next five years.
ADSB will build all four hulls in Abu Dhabi, the UAE
capital, and is responsible for integrating systems, he said.
Massey told Reuters ADSB first entered into talks with the
UAE for the vessel contract six years ago and that over the past
two years the sides had been negotiating the terms of the award.
ADSB was also in talks with the UAE for several upgrade and
refit awards and was hopeful it would announce later this year
or early next year an export deal for smaller vessels, he said.
ADSB, 40% owned by state defence conglomerate EDGE and 10%
owned by the Abu Dhabi government, has built Baynunah-class
corvettes for the UAE navy, the last of which it said was
delivered in 2017.
($1 = 3.6726 UAE dirham)
(Reporting by Alexander Cornwell; editing by Jason Neely,
Louise Heavens, Kirsten Donovan)