Tawazun Economic Council highlights strategic successes at IDEX 2017

Since its inception in 1992, the Tawazun Economic Council has been working to fulfill the vision of the UAE, in line with the UAE’s government directives and under the guidance and support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The Tawazun Economic programme, which is overseen by the Tawazun Economic Council, aims to achieve comprehensive and sustainable economic and social development that entails more focused efforts towards a diversified and knowledge-driven economy. This includes establishing and promoting industrial partnerships, capacity building, technology and knowledge transfer and the creation of jobs for UAE Nationals in specialized fields.

At IDEX 2017, the Tawazun Economic Council highlighted some of its success stories and strategic international partnerships to date. Mubadala, the Abu Dhabi government owned investment company and Solvay, the Belgium chemical and advanced materials company have established a Joint Venture that will deliver advanced composite materials for the empennage and floor beams of Boeing’s new 777X programme. This is a strategic collaboration in the Aerospace sector, specific to carbon fiber pre-impregnated (prepreg) composite material and will become the first manufacturer in the UAE of this material.

The as-yet-unnamed joint venture between Mubadala and Solvay has attracted clients such as Boeing, who is in fact the JV’s first client, announcing late last year that they will begin the manufacture of 777X components with composite material made in the UAE.

The third project under the Tawazun Economic programme is Exechon. Lockheed Martin, Tecgrant AB (formerly Exechon AB), a Sweden-based technology company and Abu Dhabi-based Injaz National have formed a new joint-venture in the UAE focused on advanced machining technology. The joint venture, Exechon Enterprises L.L.C., will establish an engineering and manufacturing center of excellence for Parallel Kinematics Machining (PKM) in the aerospace, defence and automotive sectors, as well as other industrial areas.

source: WAM