Israel's Defense Ministry, led by the Administration for the Development of Weapons and Technological Infrastructure and Israel Military Industries (IMI), signed an agreement to develop and equip the IDF with advanced rockets.

The project is expected to cost Israel hundreds of millions of shekels and comes after Defense Minister Avigdor Liberman (Yisrael Beytenu) decided to equip the IDF with easily accessible, precise missiles and rockets of varying ranges.

According to the Defense Ministry, this agreement will improve Israel's abilities significantly, and will allow Israel to hit a target precisely, from a distance, at a relatively low cost per mission.

The new rockets will use advanced technologies appropriate for the modern battlefield.

"The plan to create an array of precise rockets and missiles is gaining momentum," Liberman said. "Some of it is already being manufactured, and some are still being researched and developed. We are acquiring and developing precise firing systems which will allow us to empower the IDF's offense system and cover every spot in the region, with short- and long-range [missiles]."

IMI Chairman Yitzhak Aharonovich noted, "The innovative rocket systems with which the IDF will be provided via this agreement express our company's technological abilities. The company excels in precise firing abilities and the precise targeting of ground targets."