Comercent: UAE prepares to sign an armament contract at 4 billion with Russia

The Russian Comercent paper said on Monday that the United Arab Emirates (UAE) is preparing to sign a large weapon deal in 2003 at a cost of 4 billion dollars including the finance of a new anti - planes defense system.

The paper which did not indicated the source of its information explained that what is important in this contract is that the UAE finances the manufacturing of a new weapons system instead of buying a new one of less performance.

Earlier the UAE signed in Moscow a contract at 734 million dollars in 2000 to buy 50 anti- warplanes system of Panitser S 1 ( Sam 19 according to NATO classification). At the meantime, the UAE wants a system that have combined ability to monitor and destroy air targets.