Dh15.41b deals at Idex in 3 days
Organisers expect cumulative deal tally to touch Dh20b by tomorrow when the exhibition ends
Cumulative deal tally expected to touch Dh20b by tomorrow, the last day of the expo
The UAE awarded military contracts worth Dh4 billion to local and international companies on the third day of the International Defence Exhibition (2017), organisers said.
US-based companies Raytheon, Boeing, German company Rheinmetall, South Africa’s Paramount Group and European company BAE Systems bagged some of the biggest deals announced yesterday.
Among the local companies that won deals are Abu Dhabi Autonomous Systems Investments Company (Adasi), International Golden Group, Al Jaber, Al Masaood among others.
Raytheon won the biggest deal: an Dh828 million contract to supply spare parts for air defence to the UAE Armed Forces, followed by Adasi which won a contract worth Dh377 million to offer integrated logistics support for aircraft.
“Over the past three days during Idex and Navdex 2017, the UAE Armed Forces penned a cumulative of 52 deals worth more than Dh15.41 billion,” said Idex spokesperson BrigadierGeneral Rashid Al Shamsi.
On the first day, deals worth Dh4.5 billion were announced and on the second day the total contract value stood at Dh7 billion.
Organisers are expecting the total value of contracts awarded to various companies to go up to Dh20 billion by the end of the event tomorrow.
More than 1,200 defence firms from 57 countries are taking part in the five-day event that got underway on Sunday at the Abu Dhabi International Exhibition Centre.