Israel is working on a new missile system capable of hitting targets anywhere in the Middle East, Defence Minister Avigdor Lieberman said today.
State-owned arms manufacturer Israel Military Industries (IMI) would deliver "within a few years" an advanced integrated system "allowing precise hits by remote launching", he said in a statement.
Lieberman added that the contract with IMI was budgeted at "hundreds of millions of shekels".
The Israeli shekel is currently trading at 3.63 to the US dollar.
"The project for setting up a precision rocket and missile system is underway," Lieberman said in the statement.
"Part of it is already in production and part is in the final phases of research and development.
"We are acquiring and developing precision fire systems that will allow... the Israel Defence Forces to cover within a few years every point in the region."