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22-02-23
IDEX, NAVDEX 2023 witnesses USD3.4B value of contracts inked
(MENAFN) Agreements valued at USD2.2 billion were inked on the second day of the International Defense and Naval Defense exhibitions hosted in Abu Dhabi – taking the growing value of deals throughout the events to USD3.4 billion.
The biggest of the 12 deals inked was valued at USD1.2 billion by Halcon, a subsidiary of Edge Group, to obtain the Desert Sting P5 system, on top of a USD299 million deal by Halcon to acquire Hunter systems.
ADASI, an additional subsidiary of Edge Group, inked a USD362 million agreement to procure shadow systems. Trust International Group inked two domestic agreements to procure Minimi machine guns as well as 7.62mm machine guns valued at USD48 million and USD5.4 million, individually.
Edge Group is a UAE state-possessed conglomeration of 25 firms to supply military weaponry as well as associated technologies.
International deals declared involved two with France’s Thales Six – one valued at USD86 million to improve and back ground station radio and the other a USD43 million contract to procure Central Monitoring Systems.
MENAFN22022023000045014228ID1105613743
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