- Home
- Middle East
- UAE
- SDF, EOS form a partnership to develop a cutting-edge multi-platform, light-weight, 14.5 x 114 mm we ..
SDF, EOS Form A Partnership To Develop A Cutting-edge Multi-platform, Light-weight, 14.5 X 114 Mm Weapon System
Sumaira FH Published February 22, 2021 | 05:15 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 22nd Feb, 2021) 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 Abdulrahman 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.
Related Topics
Recent Stories
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago