JERUSALEM (dpa-AFX) - Elbit Systems Ltd. (ESLT), a defense electronics and technology company, on Monday announced that it has been awarded an approximately $170 million contract by the Israel Ministry of Defense.
The contract is for establishing and operating an advanced training and simulation center for the Israel Defense Forces Artillery Corps.
The contract will be performed over a period of 15 years.
Under the contract, the company will develop and deliver training infrastructure, including mission and driving simulators, training classrooms and dedicated facilities.
The center will support the integration of the ROEM or SIGMA self-propelled artillery system and the LAHAV or PULS precision rocket launcher system into the IDF Artillery Corps.
The company will also provide training, maintenance and support services throughout the contract period.
The company said the project is expected to improve operational readiness, shorten training timelines and enhance training efficiency while reducing resource consumption and wear on operational equipment.
On Friday, Elbit Systems closed trading 3.43% lesser at $779.68 on the Nasdaq.
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