JERUSALEM: A leading state-run Israeli defense company said Wednesday it has signed a USD 777 million contract with India for the supply of Barak 8 long-range surface-to-air defense missiles and missile defense systems for the Indian Navy, media reports here said.
Israel Aerospace Industries (IAI) said India’s Bharat Electronics Limited (BEL) will be the main manufacturer for the project, Israeli business daily Globes reported.
The IAI will supply Long-Range Surface-to-Air Missile (LR-SAM) Air and Missile Defense (AMD) systems, the marine version of the AMD system Barak 8, for seven ships of the Indian Navy, the report said.
The IAI is Israel’s largest aerospace and defense company. It develops, manufactures and supplies defense systems including anti-missile, aerial systems and intelligence and cyber security systems.
India maintains close relations with Israel’s defense establishment, and has entered into several substantial deals with Israeli defense companies.
IAI CEO and president Nimrod Sheffer said: “IAI’s partnership with India dates many years back and has culminated in joint system development and production. India is a major market for IAI and we plan to protect and reinforce our positioning in India, also in view of increasing competition.
“For its part, IAI management continually refreshes its business strategy while preserving the core capability and growth engines, of which the Barak 8 is an example,” the daily quoted Sheffer as saying. PTI
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