Home- Stories -Deals Worth Over US$1.1 Billion Inked

Deals Worth Over US$1.1 Billion Inked

: Feb 18, 2019 - : 2:34 am

The United Arab Emirates (UAE) has signed military deals worth US$1.4 billion on the opening day of International Defence Exhibition and Conference (IDEX).


The Armed Forces, which signed 33 contracts in total, awarded international companies 15 contracts, worth US$1.1 billion, while local companies were awarded deals worth about US$3 million.


Raytheon of the US won a patriot missile defence system contract for the UAE air force valued at US$354 million and Eos of Australia won a US$316 million contract, General Mohammed Al Hassani, IDEX spokesman said.


Other international contracts include a contract with the Russian Joint Stock Company for maintenance work and to buy Pantsir spare parts for the UAE Air Defence Force; a contract with the Swiss company Rheinmetall for technical support in Skyguard air defence product for the UAE Air Force; and a deal with Lockheed Martin to add capabilities to the radar system for the UAE Air Force.


UAE also signed a US$15 million deal with Al Fattan Ship Industry to purchase naval ships for the country’s Navy.


Among the local companies that won contracts are International Golden Group, which clinched two contracts with a total value of US$93 million. Deena Shipping of the UAE also won a US$27 million deal. Other companies securing deals include Emirates Shooting Equipment, Bermuda, Knowledge Point and Emirates General Transport.

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