Article Posted on : - May 10, 2011

JERUSALEM (BNS): Israel plans to invest nearly $1 billion for the development and production of Iron Dome rocket interception batteries, a top Israeli Defence Ministry official has said.

Defense Ministry director general Maj. Gen. (res.) Udi Shani said five countries have expressed interest in the system following its successful operational interception of rockets fired from the Gaza Strip last month, according to a report by Haaretz newspaper.

“We are talking about [having] 10-15 Iron Dome batteries. We will invest nearly $1 billion on this. This is the goal, in addition to the $205 million that the US government has authorized," the report quoting Shani said.

There are also plans to invest another $1 billion over the coming five years for the development of Magic Wand, a medium-level missile interception system, he said.

The Iron Dome system was designed as a response to the threats Israel faces from short-range rockets and mortar shells. The system has the capability to identify and destroy such projectiles before they land in Israeli territory.