ABU DHABI, Nov 5 (Reuters) - Abu Dhabi’s government said on Tuesday it was launching 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. 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. (Reporting Stanley Carvalho, writing by Maher Chmaytelli; Editing by Jon Boyle)