These Israeli Projects Made Billions in UAE Before the Normalization

Published August 18th, 2020 - 09:00 GMT
These Israeli Projects Made Billions in UAE Before the Normalization
Sometimes these contracts culminated in large commissions worth billions of dollars, according to a number of Israeli company executives working in Abu Dhabi. (Shutterstock)
Highlights
With the normalization of diplomatic ties, many companies are hopeful they can open up revenue streams within the country after the accord is finalized.
Despite the recent establishment of formal diplomatic ties between the two countries, Israeli companies specializing in cyber and national security systems have been doing business in the UAE for quite some time now, according to Calcalist.

Sometimes these contracts culminated in large commissions worth billions of dollars, according to a number of Israeli company executives working in Abu Dhabi.
 

Calcalist notes that Logic Industries, head by Mati Kochavi, started working in the UAE in 2008, after a deal was signed between the local Abu Dhabi government and a Swiss company he owned named AGT - the contract to provide security details for its oil drills as well as its borders.

AGT subcontracted out the project to Logic who then flew dozens of Israelis, including former military generals, to the UAE to begin the project.

Another company, Aeronautics Ltd., began working with Abu Dhabi five years ago after Logic's contract ended, providing the same category of services - headed by former Mossad official Avi Leumi.

The report notes that this category of business also spread to larger Israeli security organizations such as Elbit Systems and the Israel Aerospace Industries (IAI) - both of whom upgraded the country's air force F-16 fighter jets. They have also transferred hundreds of millions of dollars in military apparatuses to the UAE, notably intelligence and radar systems.

The UAE even bought the Pegasus software from the NSO Group.

Water projects have also been lucrative, considering Israel's irrigation technology is storied and ahead of its time at its inception. Tahal Consulting Engineers Ltd. completed multiple water projects in the UAE worth tens of millions of dollars, headed by Former IDF chief of staff Amnon Lipkin-Shachak before his passing.

Tahal used Israeli irrigation company Netafim to provide the equipment for the project. According to the report, this was Netafim's only revenue in the Persian Gulf. Their competitor Naan Dan Jain, which is Indian-owned, has been cleaning up selling irrigation systems to the UAE in lieu of Israeli ties.

However, with the normalization of diplomatic ties, many Israeli companies are hopeful they can open up revenue streams within the country following the finalization of the accord.


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