Emirates to invest USD 220 million in ALAS missile system development - USD 33 million in first phase

The United Arab Emirates (UAE) will invest USD 33 million in the first phase of development of the ALAS missile system - production of antitank missiles, whereas a total of USD 220 million will be invested in this system over the next four years, said Jugoimport SDPR Deputy CEO Nenad Miloradovic.

- In both conceptual and technological sense, ALAS belongs to a group of cutting-edge weapon systems used by land forces - Miloradovic told the national broadcasting corporation RTS.

First Deputy Prime Minister and Minister of Defense Aleksandar Vucic attended on February 18th in Abu Dhabi the signing ceremony of an agreement between Serbia's Jugoimport SDPR and the company Emirates Advanced Research and Technology Holding (EARTH) on the joint development and equipping of the ALAS missile system.