The Israeli Defense Ministry has signed contracts worth $760 million with Elbit Systems, an Israeli defense electronics company, for ammunition supply, as per statements from both the ministry and the company Tuesday.
The ministry's statement indicated that the ammunition, to be delivered through two-year purchase orders, is intended for the Israel Defense Forces (IDF) ground forces.
Since the beginning of Israeli offensive on besieged Gaza in early October last year, Elbit has increased its production across the country to meet the ministry's demands, with thousands of employees adopting longer work schedules.
The ministry also noted that, since the offensive’s onset, it has increased procurement to bolster the IDF's capabilities for sustained combat, ensure Israel's self-reliance in critical areas of production, and strengthen the economy.
According to the statement, the ministry's total purchases since the conflict began are estimated at tens of billions of shekels (1 shekel is about $0.27), with over half of these purchases made from Israeli suppliers.
