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State-owned defense company EDGE secured new deals worth AED7.13 billion (US$1.9 billion), accounting for the bulk of the latest contracts announced at Abu Dhabi’s major fair.
The new contracts signed by the company’s subsidiaries Halcon and ADASI accounted for more than 85 percent of the AED8.14 billion in deals signed on the second day of the 2023 International Defense Exhibition (IDEX) and Naval Defense Exhibition (NAVDEX), according to Tawazun Director meeting.
The defense procurement agency said the cumulative value of deals signed during IDEX and NAVDEX has now reached AED12.64 billion.
The largest deal for EDGE’s Halcon was worth AED4.7 billion. It includes the supply of advanced precision-guided glide munitions to the UAE Armed Forces. Halcon also secured a Dh1.1 billion deal for its HUNTER loitering ammunition.
The third contract, worth AED 1.33 billion, will see ADASI, another subsidiary of EDGE, supply the SHADOW system to the UAE Armed Forces.
EDGE is headquartered in Abu Dhabi and has a book value of about $5 billion in 2022.
other contracts
The latest deal also includes two agreements with France’s Thales VI, one worth AED 316 million to develop and support ground station radios and the other for AED 159 million to procure the CMS system.
German company Rheinmetall was awarded a contract worth AED 57 million, while another contract worth AED 11 million was awarded to American company Harris International.
(Reporting by Cleofe Maceda; Editing by Seban Scaria)
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