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FINANCIAL NEWS
UAE Armed Forces inks USD3.9b deals during Idex 2011
25 Feb 2011
(MENAFN) The head of the International Defense Exhibition and Conference (Idex) 2011 organizing committee, Major General Obaid Al Katbi, said the total worth of the UAE Armed Forces’ inked deals during the exhibition amounted to USD3.9 billion, reported Gulf News.
Al Katbi said that the investments of the UAE Armed Forced in Idex 2011 were lower than the USD5 billion deals made in the the 9th edition of the exhibition in 2010.
Al Katbi added that in the last day of the exhibition alone, the UAE forces signed 9 deals worth USD762 million. The biggest contract of the last signed deals was with International Golden Group (IGG). It included buying 120mm mortar system designated RG 31m for USD213.9 million.
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