EDGE Signs Agreement with PT Pindad for Ammunition Production Line
Abu Dhabi, UAE: 14 May 2024 – EDGE, one of the world’s leading advanced technology and defence groups, signed a USD 27 million (AED 99 million) agreement today to supply an ammunition production line to PT Pindad, an Indonesian state-owned enterprise and one of Asia’s leading defence manufacturers.
The agreement is for the production of 5.56x45mm and 7.62x51mm calibre ammunition, and is aligned with the Indonesian Ministry of Defence’s objective to increase local job creation and sovereign manufacturing capabilities. The ammunition facility is scheduled to commence production in 2026.
The agreement is part of an ongoing effort between both countries that aims to increase bilateral trade to USD 10 billion by 2030 under the Comprehensive Economic Partnership Agreement.
ShareHome >> Business and Economy Section
Emirates Aviation University marks 35 years of supporting the local and global aviation ecosystem
Music, Maps, and Stories at the Mohammed Bin Rashid Library in July
New SHEGLAM Daydreamer Mini Palette Turns Pocket-Sized into Power Pigment
Passenger Growth Hits 5% in May
João Almeida: Racing for Glory and Riding for the Team
May Air Cargo Demand Up 2.2% Despite Trade Disruptions
Return to Ritual: Celebrate Self-Care Month with BUFARMA Skincare
Rediscover family shopping days: REDTAG opens its doors in Al Ain
Dubai Culture Launches Open Call for 14th Sikka Art & Design Festival
Summer Restaurant Week Returns This DSS with Over 65 Exclusive Dining Deals Across Dubai
Julien Calloud Appointed CEO of SAVOYE to Lead a New Era of Performance and Innovation
Zoho Powers Up CRM for Everyone Platform with AI to Elevate Customer Experience
Media's Role in the Age of Algorithms By HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum