Israel Boosts Defense with $1.4 Billion Tank Production Plan

The Israeli government has given the green light to a sweeping initiative aimed at ramping up the production of Merkava tanks, alongside the Tiger and Eitan armored personnel carriers. The project is backed by a hefty budget surpassing NIS 5 billion (USD 1.4 billion).

Spearheaded by the Merkava and Vehicle Administration, the Armor Acceleration Program is poised to broaden production infrastructure across the country, notably extending benefits to peripheral regions. Defense Minister Israel Katz has heralded the move as a strategic boost for both national security and economic growth.

With the green light secured, the proposal now awaits the Knesset's Defense Budget Committee's nod of approval before procurement contracts can proceed to the finalization stage.

(With inputs from agencies.)