The United Arab Emirates is to make guided weapons systems in Abu Dhabi in a joint venture with Denel, South Africa's biggest maker of defence equipment, in the latest push to diversify its economy away from oil.
State-owned investment firm Tawazun Holding said on Thursday the joint venture will develop, manufacture and integrate guided systems for conventional air munitions.
The UAE's Air Force will be the first customer of Tawazun Dynamics, whose facility will be set up in an industrial park on the outskirts of Abu Dhabi.
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