IDEX 2017: Over $3B in arms deals made in first two days
The first two days of IDEX have led to an increasing number of deals with national and international companies alike. (Armyrecognition.com)
Arms deals worth AED 6.919 billion (USD 1.88 billion) were signed on the second day of the International Defence Exhibition and Conference, IDEX 2017, bringing the total transactions in 48-hrs of the exhibition to more than AED11.335 billion (over USD 3 billion).
Brigadier-General Rashid Mohammed Al Shamsi, Official Spokesperson for the 13th edition of IDEX, said that a total of 10 transactions were carried out on Monday, bringing the cumulative number of deals for the first and second day to 31. On day one of the IDEX, 21 deals worth more than AED4.4 billion were signed.
Speaking at a press briefing Al Shamsi, said that five of the deals were made with the national companies and the remaining five with international companies.
He pointed out that today's deals included a contract with the UAE based company Maximus Air, nearly AED1.8 billion, for purchasing air cargo planes for commercial use.
A contract was signed with the Russian company, ROSOBORONEXPORT, to buy worth over AED2.6 billion of anti-armour missiles, Al Shamsi said.
He said that a contract worth over AED 865. 7 million was signed with Swedish aerospace and defence company, SAAB AB, to buy new airborne G6000 SRSS (Swing Role Surveillance System) aircrafts and provide additional supply of spare parts for ground hardware and perishable materials.
A contract with UAE based company, Trust International Group, to buy about AED 553. 7 million worth of military grade explosive interactive weapons.
Al Shamsi said that the first two days have led to an increasing number of deals with national and international companies alike.
Furthermore, he stressed that IDEX 2017 offers a platform to engage with stakeholders, foster deals, build partnerships and witness the latest in defence innovation and technology.
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