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Abu Dhabi’s government has announced to launch a new company, EDGE, that will invest in defence technology.
“The new company will invest and bring advanced defence technologies to the market,” EDGE chief executive and managing director, Faisal al-Bannai, said at the ceremony on Tuesday.
The company will employ about 12,000 people.
The launch was made at a ceremony attended by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nayhan. Oil-rich Abu Dhabi is the largest and the wealthiest member of the United Arab Emirates federation.