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

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

"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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