February 21, 2017 / 12:10 PM / 9 months ago

$1.1 billion in defence contracts announced on third day of Abu Dhabi expo

Abu Dhabi (Reuters) - The United Arab Emirates (UAE) announced 4.07 billion dirhams ($1.11 billion) in defence procurement contracts on Tuesday, the third day of the biennial International Defence Exhibition (Idex) in Abu Dhabi.

Munitions are on display during the International Defence Exhibition and Conference (IDEX) in Abu Dhabi, United Arab Emirates February 19, 2017. REUTERS/Stringer

The UAE Armed Forces have awarded around 15.4 billion dirhams in contracts in the event’s first three days, Reuters calculations show.

Idex spokesman Rashid al-Shamsi told reporters he expected contracts worth 18 billion dirhams to be awarded at the event, where more than 1,200 companies are participating.

The region’s largest defence show closes on Thursday.

($1 = 3.6723 UAE dirham)

Reporting by Alexander Cornwell and Stanley Carvalho; editing by Jason Neely

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