Search Site

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.

UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024

A deal to purchase anti-drone guns at a value of $192 million has been signed. (WAM)
  • The second day of the event witnessed announcement of five deals signed by the Tawazun Council.
  • The total number of local contracts on the second day of UMEX and SimTEX 2024 reached five contracts.

ABU DHABI, UAE – On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value of deals signed on behalf of the Emirates Ministry of Defense (MoD) reached US$255 million (AED939 million).

This was announced during a press conference held on Wednesday by Tawazun Council’s official spokesperson, Zayed Saeed Al Meraikhi.

Mona Ahmed Al Jaber, Chief of Corporate Communication at Tawazun Council and other senior officials were also present on the occasion.

The second day of the event witnessed announcement of five deals signed by the Tawazun Council – the UAE defense and security acquisitions authority for the Ministry of Defense.

This brought the total number of the contracts announced on the first two days to 10 and the total value to US$517 million (AED1.9 billion).

Zayed Al Meraikhi said the total number of local contracts on the second day of UMEX and SimTEX 2024 reached five contracts, valued at US$255 million (AED939 million), including two contracts with EDGE.

The first one is an US$59 million (AED220 million) contract to procure drone systems, along with provision of technical support training services, while the second one is for the purchase of defense systems anti-drone guns at a value of US$192 million (AED708 million).

The remaining deals included a contract with National Center of Meteorology worth US$173,995 (AED639,000), and another contract with Gulf United Integrated Multitech Solutions to procure robots at a value of US$2 million (AED8 million).

A contract worth US$ 544,588 (AED2 million) was signed with Star Ling Spatial Communications for providing communication bands.

Al Meraikhi said, “We are proud of the achievements made by the Emirati defense industries as the country is confidently striding to develop a sophisticated defense industry that is driven by national capabilities.”

He said, “This sector will offer comprehensive and effective solutions, further solidifying the UAE’s position as a regional center for advanced defense industries.”

He added, “UMEX and SIMTEX 2024 provides a platform to highlight the advancements in simulation, training, and unmanned systems within the domains of defense and security.”

Al Meraikhi said, “The remarkable and rapid development of these sectors contributes to the initiatives aimed at bolstering industrial and defense capabilities.”