Greece in talks with Israel on €2b Iron Dome - report

Greece is negotiating with Israel to develop its own Iron Dome air defense system, as part of an ambitious plan to modernize its military capabilities, "Reuters" reports.

Greece is conducting negotiations with Israel to develop its own Iron Dome air defense system for €2 billion ($2.11 billion), as part of an ambitious plan to modernize its military capabilities, "Reuters" reports, according to senior Greek officials.

The main interest behind Athens interest in such a major deal is its enmity with its big eastern neighbor Turkey, which in August announced its own "Steel Dome" multi-layer air defense project.

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"The plan is to create a multi-layer anti-aircraft and anti-drone system. We are in discussions with Israel," one source with knowledge of the issue told "Reuters."

Iron Dome, manufactured by Rafael advanced Defense Systems is the short-range layer of Israel's multi-layer air defense system designed to handle threats up to a range of 40 kilometers, with each interception missile costing $30,000. For further ranges David's Sling, also manufactured by Rafael intercepts threats at a cost of $700,000 per missile. In August 2023, the US approved the sale of an Israeli David's Sling system to Finland for €316 million.

To combat long-range threats, Israel has the Arrow 2 and Arrow 3 systems produced by Israel Aerospace Industries (IAI). Arrow 2 is for interceptions within the atmosphere and Arrow 3 outside of the atmosphere. The cost of an interception by the Arrow 2 is $1.5 million and the cost with Arrow 3 is $2 million. Israel has sold an Arrow 3 system to Germany for $3.5 billion, with delivery due to begin next year.

Published by Globes, Israel business news - en.globes.co.il - on November 15, 2024.

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