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.
Posted by : Abu Dhabi and Al Ain PR Network Editorial Team Viewed 5375 times PR Category :Business and Economy Posted on : Wednesday, May 15, 2024 8:13:00 AM UAE local time (GMT+4)
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