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Deals worth $3.44bn inked on first two days of IDEX and NAVDEX 2023

A total of 12 deals were signed with local and international companies on the second day of the exhibitions

February 22, 2023

Deals worth $3.44bn inked on first two days of IDEX and NAVDEX 2023

The Tawazun Council announced the signing of 12 contracts worth Dhs8.14bn ($bn) with local and international companies on day two 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.

A total of 8 contracts were awarded to local companies, totalling Dhs7.6bn in value, while four deals, worth Dhs543m, were inked with international companies, Tawazun Council’s spokesperson Zayed Saeed Al Meraikhi said.

Among locally-awarded contracts, the biggest worth Dhs4.7bn was given to Halcon, a subsidiary of Edge Group to procure Desert Sting P5 system. Also signed with Halcon is an Dhs1.1bn contract to procure Hunter systems. A Dhs1.33bn deal was also signed with ADASI, a subsidiary of Edge Group, to procure Shadow system.

Two contracts with Trust International Group were also penned – A Dhs179m deal to procure Minimi machine gun and another Dhs20m contract to obtain 7.62 mm machine gun.

Additionally, a Dhs175m pact was signed with ADSB, a subsidiary of Edge Group, to procure rescue boats and a Dhs40m contract with International Golden Group to procure telecom systems.

Marakeb garnereed a Dhs20m contract to develop Golden Unit of multi-mission unmanned boat.

The international contracts included two with France’s Thales Six, one worth Dhs316m to develop and support ground station radio; and the other Dhs159m contract to procure CMS systems.

The other two signed contracts were an Dhs57m contract with the German company Rheinmetall, to provide technical support for engagement simulation and a Dhs11m contract with the US company Harris International to procure telecom systems and intercom units.

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

The cumulative value of deals signed at IDEX and NAVDEX 2023 now stands at Dhs12.64bn, across 23 contracts.

UAE President Sheikh Mohamed bin Zayed Al Nahyan toured IDEX at the Abu Dhabi National Exhibition Centre (ADNEC) on February 21.

Sheikh Mohamed, accompanied by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, visited the pavilions and stands of several participant companies and national entities.