Established in 2009, the Mohamed bin Zayed (MBZ) fund has supported projects for conservation of species and subspecies across 170 countries
A new lightweight and chain-driven machine gun will be developed in the UAE using cutting-edge design and manufacturing technology.
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SDF, the investment arm of Tawazun Economic Council, on Monday said it has signed an agreement with EOS Defence Systems Pty Limited (EOS) to establish a joint venture (JV) with equal partnership. It would design and develop the new multi-platform 14.5mm x 114mm gun "with the involvement of international and local engineering and designing expertise".
The JV will utilise the latest technologies in design and manufacturing to provide to the market a superior weapon system compared to the existing conventional 14.5mm x 114mm products.
The new weapon system will provide lighter weight, improved accuracy, lower stoppage, reduced recoil and enhanced logistic support.
Tareq Abdulraheem Al Hosani, Tawazun CEO and Chairman of SDF, said: “This agreement stems from SDF’s commitment to support the development of the UAE’s strategic industries and contribute to the UAE economy through our developmental investment partnership module. It is our pleasure to partner with EOS, one of Australia’s leading defence and technology companies."
SDF CEO Abdulla Naser Al Jaabari said: “This agreement paves the way for the JV to set up production in the UAE that targets to supply the global market. Our strategy is to collaborate with UAE national companies with existing capabilities to support the development and manufacturing of the new weapon system and localise its supply chain."
ismail@khaleejtimes.com
Established in 2009, the Mohamed bin Zayed (MBZ) fund has supported projects for conservation of species and subspecies across 170 countries
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