Deals worth $1.22bn signed on day one of IDEX and NAVDEX 2023
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Deals worth $1.22bn signed on day one of IDEX and NAVDEX 2023

Deals worth $1.22bn signed on day one of IDEX and NAVDEX 2023

A total of 11 deals with signed, of which six contracts were awarded to local companies

UAE signs $1.22bn in deals on day one of IDEX and NAVDEX 2023

The Tawazun Council announced the signing of contracts worth Dhs4.5bn ($1.22bn) with local and international companies on day one of the International Defence Exhibition (IDEX) and the Naval Defence Exhibition (NAVDEX) 2023.

It signed 11 contracts on behalf of the UAE’s Ministry of Defence, of which six contracts worth a cumulative Dhs2.3bn were awarded to local companies, while five deals worth Dhs2.2bn were inked with international firms, the council’s spokesperson Zayed Saeed Al Meraikhi, said.

The Tawazun Council is the UAE defence and security acquisitions authority for the defence ministry, UAE Armed Forces and security agencies, according to its website.

Among local companies were Halcon, a subsidiary of Edge Group, which clinched a Dhs2.14bn deal for the Thunder P3 system; Maplin Marine Systems & Services which won a Dhs78m contract to provide vessels’ technical support services.

Other local companies include Mohamed Abdulrahman Al-Bahar, which signed a Dhs45m contract to offer technical support services on caterpillar vehicles; and Atlas Telecom, which bagged a Dhs26m contract to procure SR Hawk radars and portable radars, official news agency WAM reported.

A Dhs4m contract with Romco International to procure mine clearance system and a Dhs8m deal with Al Hamra Trades to procure and to provide maintenance services on inspection devices and explosives detectors, were also inked.

Among international companies, the biggest contract was signed with Indonesian company PT Pal, worth Dhs1.5bn, for the procurement of multi-mission vessel. This was followed by a Dhs421m contract with Thales LAS of France for the procurement of GM403 radars; and a Dhs202m deal with the US company Allant Techsystems to obtain ammunition.

Additional deals with international counterparts included a Dhs92m one with French company MBDA to provide missiles’ technical support services and a Dhs3m contract with Germany’s Rhode & Schwartz to extend communication systems’ technical support.

Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, had inaugurated the 16th edition of IDEX, at the Abu Dhabi National Exhibition Centre (ADNEC).

The two exhibitions have been organised by ADNEC Group, in cooperation with the defence ministry, and will run until February 24.

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