Deals worth Dhs17.913bn signed by UAE Armed Forces at IDEX, NAVDEX

  • Date: 24-Feb-2021
  • Source: Gulf Business
  • Sector:Defense
  • Country:UAE
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Deals worth Dhs17.913bn signed by UAE Armed Forces at IDEX, NAVDEX

The UAE Armed Forces have signed 12 new deals worth Dhs5.589bn with local and international companies on the third day of the International Defence Exhibition (IDEX) and the Naval Defence Exhibition (NAVDEX) 2021.

The cumulative value of deals signed at IDEX and NAVDEX 2021 is now Dhs17.913bn, official news agency WAM reported.

Staff Brigadier-General Mohammed Al Hassani, official spokesperson of the IDEX and NAVDEX exhibitions, said: "The total amount of deals signed with international parties amounted to Dhs1.164bn, which is 21 per cent of the total deal value for today, and Dhs4.425bn of deals were agreed with UAE companies, which is 79 per cent of today's total deal value.“

"Six contracts were awarded to international companies, and six agreements have been implemented with UAE based companies. 12 deals were signed in total,“ he added.

"Significant deals with UAE companies today include the contract which was put in place with 'Yas Holding LCC', purchasing Korean CHUNMOO launchers and missiles, at a value of Dhs2.955bn. Further deals have included agreements with 'Abu Dhabi Ship Building Company, providing technical support services for naval vessels and ships, at a value of Dhs650m,“ noted Naval Staff Colonel Fahed Nasser Al Thehli, official spokesperson for NAVDEX.

"In addition, we have