UAE signs deals of Dh2.7 billion on the fourth day of Idex

Abu Dhabi: The UAE Armed Forces signed 29 contracts worth Dh2.7 billion on the fourth day of the International Defence Exhibition in Abu Dhabi, organisers announced during a media briefing on Wednesday.

Twenty local firms won Dh787 million worth of deals, whereas international deals amounted to Dh2 billion. Seven global companies including from Russia, US, France, United Kingdom and Columbia won the major contracts.

Kaman Precision from the US won a Dh1.19 billion contract to purchase FMU-152 for the UAE Air Force, Nexter systems from France was awarded a Dh516 million contract to provide technical support, supply spare parts, and technical repair services for Leclerc tanks.

Colombian company Indumil secured a major deal worth Dh150 million to purchase MK-81 MK-82 type bombs as well as front and rear fuselage for the UAE air force.

Russian company Joint Stock secured a contract totalling Dh7 million to upgrade BMP-3 tankers for the UAE army.

Among the local firms, International Golden Group (IGG), Al Fahad security systems, Al Fattan company won some of the major deals announced on Wednesday.

IGG won three separate contracts of Dh11 million, Dh77 million and Dh17 million. The Abu Dhabi based firm will purchase navigation systems for NIMR vehicles and also light ammunitions for the UAE Armed Forces.

The UAE also reached a deal worth Dh44 million with Gulf Aerospace to buy various ammunitions for the air force. Knowledge Point secured a contract to provide advisory services and prepare studies for the UAE Armed Forces worth Dh80 million.

A Dh20 million contract with Tridles and Machine to provide technical support for maintenance and repair services as well as supply spare parts for the UAE Armed Forces units was also inked.

Emirates Telecommunication will buy and install radio stations for signal defence and the value of the contract is Dh37 million.

The total deals signed in the last four days reached Dh19.6 billion, according to Idex spokesperson General Mohammad Al Hassani. More deals are expected to be announced on the final day on Thursday.

Hundreds of defence firms are participating in the event including some of the biggest names such as Raytheon, Boeing, Lockheed Martin, Rostec Corporation, Paramount Group, Oshkosh Defence and Thales, among others.

The event takes place as defence spending goes up in the region due to various conflicts.