EDGE seals key Indonesian ammunition production line deal
INDUSTRIAL NEWS
EDGE, one of the world’s leading advanced technology and defence groups, has signed a $27 million agreement for supply of an ammunition production line to PT Pindad, an Indonesian state-owned enterprise and one of Asia’s leading defence manufacturers.
The agreement is part of an ongoing effort between both countries that aims to increase bilateral trade to $10 billion by 2030 under the Comprehensive Economic Partnership Agreement.
Headquartered in Abu Dhabi, EDGE consolidates more than 25 entities into five core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, and Homeland Security.
According to EDGE, the agreement with the Indonesian group is for the production of 5.56x45mm and 7.62x51mm calibre ammunition.
It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive, it added.-TradeArabia News Service
