ABU DHABI, 22nd February, 2021 (WAM)
SDF, the investment arm of Tawazun Economic Council, and EOS Defence Systems Pty Limited (EOS) have signed an agreement to establish a JV with equal partnership, which would design and develop a new multi-platform Light-Weight 14.5 x 114 mm Chain Driven Machine Gun in the UAE, with the involvement of international and local engineering and designing expertise.
The JV will utilize the latest technologies in design and manufacturing to provide to the market a superior Weapon System compared to the existing conventional 14.5 x 114 mm 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 defense and technology companies, and we look forward to an ongoing relationship that will be of benefit to both parties”.
SDF CEO, Abdulla Naser Al Jaabari, commented, “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 localize its supply chain”.
Al Jaabari added “We are positive that the need for such an innovative design and solution will result in an economically viable business, we have displayed the product in IDEX 2021 and we have been receiving high interest from potential customers in the region”.
EOS CEO Ben Greene commented: “EOS is proud to have SDF as a JV partner. EOS’ global role as a systems integrator and technology leader in remotely operated combat systems will strongly support the development in UAE of enhanced defense technology products optimized for future roles in this global market. EOS has a long history of investment in the UAE, and the formation of this JV represents the next step in developing local industry and infrastructure to support next-generation defense and aerospace capabilities.”
Strategic Development Fund, the investment arm of Tawazun Economic Council, is focused on financial return and economic impact within UAE’s strategic sectors, through equity investment in local and international partnerships and developmental funding towards UAE’s private sector.
WAM/Tariq alfaham
