The United Arab Emirates Create the Biggest Defense Conglomerate in the Middle East

ABU DHABI, (BM) – The effective ruler of the United Arab Emirates (UAE) announced Tuesday that 25 government-owned and independent companies are to combine to create one of the Middle East’s biggest defense groups, learned BulgarianMilitary.com, quoting CNBC.

Read more: UAE: the Attack on Four Tankers is Coordinated Operation Most Likely by a State Actor (Photos)

Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan, who also acts as deputy supreme commander of the armed forces, announced combining the 25 firms to create a new conglomerate titled Edge.

The man selected to run Edge as both chief executive and managing director is Faisal Al Bannai, who was formerly a managing director at UAE cybersecurity company DarkMatter. Edge will combine 22 private firms with the government-owned Emirates Defence Industries Company, the Emirates Advanced Investments Group and Tawazun Holding. It’s estimated that 12,000 people will be employed under the defense giant.

In mid-September, 25 drones and missiles were used in a pre-dawn attack on Saudi Aramco facilities that forced neighboring Saudi Arabia to shut down half of the country’s oil production. Riyadh and Washington blame Iran for the attacks, which Tehran denies.

Read more: Classified Note: French Weapons Are Being Used by the UAE and Saudi Arabia in Yemen

Speaking to CNBC’s Emma Graham in Abu Dhabi Tuesday, Al Bannai said the formation of a defense behemoth — which will look to focus on cyberattacks and repelling military drones — was not formed as a direct reaction to the Aramco attacks.

“Not really. These things come and go. We have always lived in an interesting neighborhood in that regard,” said Al Bannai.

The new leader of Edge conceded that the company would look to help the UAE military in the region quickly get both the software and hardware that is needed to repel local threats.

The chief executive added that the conglomerate would look to bring non-lethal weapons such as frequency jammers and electro-magnetic systems under the same umbrella as radar technology and missile manufacture.

Read more: Leonardo Signed a Memorandum of Understanding with Abu Dhabi Ship Building

Al Bannai, who was also the founder of Axiom Telecom, said the objectives of Edge were to both ensure the UAE had a sovereign ability to protect itself as well as develop its knowledge economy for “when the last barrel of oil runs out.”

Follow us everywhere and at any time. BulgarianMilitary.com has responsive design and you can open the page from any computer, mobile devices or web browsers. For more up-to-date news from us, follow our YouTube, Reddit, LinkedIn, Twitter and Facebook pages. Do not miss the chance to subscribe to our newsletter. Subscribe and read our stories in News360App in AppStore or GooglePlay or in FeedlyApp in AppStore or GooglePlay

>>Be a reporter: Write and send your article.<<

BulgarianMilitary.com
Editorial team
Source: CNBC

UAE Defence News