Israel to invest $110bn in arms industry

Israeli tanks deployed in southern Gaza last year. Prime Minister Netanyahu said Israel will build an independent arms industry. (AFP)

• Israeli Prime Minister Benjamin Netanyahu says injection would be over over next 10 years to develop independent arms industry.

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu said Wednesday that the country would invest $110 billion over the next 10 years to develop an independent arms industry.
“I approved a total of 350 billion shekels over the coming decade to build an independent arms industry for the State of Israel,” Netanyahu said during a military ceremony at an air base in the country’s south.
“We want to reduce our dependence on any party, even on friends. The finest minds in our defense industries are hard at work developing weapons systems that will guarantee Israel’s advantage on the battlefield of the future.”