March 27, 2017

UAE signs billions worth military procurement deals with International entities

UAE signs billions worth military procurement deals with International entities

UAE on second day of the International Defence Conference (IDEX) and Naval Defence Exhibition and Conference (NAVDEX) signs a whopping Dh6.9billion worth military procurement deals with international entities. It included a contract between the UAE and Russia for anti-armor missiles, which amounted to over Dh2.6 billion.

The contract includes 5,000 anti-armor missiles, as well as training and support with Rosoboronexport, said Brigadier General Rashid Mohammed Al Shamsi, official spokesperson for the 13th edition of Idex during a press hearing on Monday.

Rosoboronexport, which produces firearms, tanks, ammunition, as well as attack helicopters, is the sole state intermediary agency for all defence related import and export between Russia and foreign countries, and is ranked among the top in the defence market. Currently, India is Rosoboronexport’s top client, with China as second.

Other contracts made between the UAE and foreign countries included Dh611million with Raytheon Company, a major US defence contractor; Dh865million with Swedish Aerospace company and Dh151million with German automotive parts supplier and military technology company, Rheinmetall Group.

Deals were also made with local entities, including, Dh290million with the International Golden Group for weapons and materials; Dh23.4million with Nimr Automotive for upgrading of armoured vehicles; Dh553.7million with Trust International Group, which is a privately held Abu Dhabi based company, as well as Dh1.79billion with Maximus Air Cargo, also Abu Dhabi based.

“Each contract differs from the other, some contracts are implemented at one go, while others are implemented in phases,” Brigadier General Al Shamsi added.

He noted that in total, 10 transactions were concluded on Monday, adding that the deals for weapons are not solely related to fighting terrorists.

“The contracts today are related to armed forces, not necessarily to combating terrorism.”

“When contracts are signed for weapons, we think of the best supplier,” he added.

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