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UAE Signs $6.4 Billion Deals at IDEX

  • Publish date: Saturday، 25 February 2023
UAE Signs $6.4 Billion Deals at IDEX

The United Arab Emirates signed defence deals worth 23.34 billion dirhams ($6.36 billion) over five days at the International Defence Exhibition (IDEX) Abu Dhabi.

Contracts worth 2.2 billion dirhams were signed at (IDEX) on Friday, of which 1.6 billion dirhams went to local firms, a statement on state news agency WAM said.

Abu Dhabi defence firm EDGE, with a book value of roughly $5 billion last year, was awarded a 4.7 billion-dirham contract on the second day of the event for its subsidiary Halcon to supply Desert Sting P5 systems.

The deals were signed by the Tawazun Council, the UAE's defence and security acquisitions authority, on behalf of the ministry of defence, the UAE Armed Forces, security agencies and Abu Dhabi Police.

The biggest local contract-worth AED 799 million, was awarded to ESE to procure ammunition. Also signed with ESE is a contract worth AED 14 million to procure ammunition.

Another contract, worth AED 612 million, was signed with Etimad Strategic Security Solutions to provide technical support for border security systems.

Organisers said 65 countries were taking part in IDEX this year including major U.S. defence conglomerates such as Raytheon Technologies, Lockheed Martin and Boeing