Israel Aerospace industries (IAI) announced this morning that it has entered into a Government to Government (G2G) agreement with the Ministry of Defense to serve as the lead contractor in manufacturing and supplying defense systems to third parties. The gross value of the project is expected to be about $1.9 billion. The payments to IAI for the project will be paid by a third party, through the Ministry of Defense, with the end date of the project scheduled for 2031. RELATED ARTICLES Israel Aerospace Industries signs $1b deal Israel's Defense Ministry spending NIS 30b on local procurement IAI launches India subsidiary In another development, the Ministry of Economy Investment Authority’s administration has this week approved an investment of more than NIS 40 million in the establishment of an IAI plant in Ofakim in the Negev. The project will be awarded a government grant of about NIS 8 million. The establishment of the plant, initiated by IAI Chairman Amir Peretz, will bring hundreds of new jobs, including dozens of technological jobs, for Ofakim Published by Globes, Israel business news - en.globes.co.il - on August 8, 2024. © Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
