Abu Dhabi - Mubasher: The general assembly meeting of Abu Dhabi Ship Building (ADSB) greenlighted, on 26 January, a $1.89 billion shipbuilding contract for the Kuwait Ministry of Defense.
The transaction involves the construction of eight Falaj-class ships, each 62 meters long, according to a bourse filing.
Signed under a related-party agreement with EDGE Commercial LLC, the transaction exceeds 5% of ADSB’s AED 211.99 million share capital.
The shareholders authorized the board, or any person delegated by the board, to represent the company and take all actions necessary to implement the approved resolutions.
In June 2025, ADSB secured a letter of award from its shareholder, EDGE Group, to supply Falaj 3-class 62-meter missile boats to the Kuwait Naval Forces.
