Israeli company negotiating defence system deal with India: ReportMarch 4th, 2008 - 8:11 pm ICT by admin
Jerusalem, March 4 (Xinhua) Israel Aerospace Industries Ltd. (IAI) is discussing details of a $1.5 billion deal with India to set up a defence system using long-range missiles, media reported Tuesday. The deal also includes radar systems made by IAI subsidiary Elta Systems Ltd., unmanned aerial vehicles (UAV), and possibly IAI-built satellites as well, according to the Globes newspaper.
The Indian government approved the deal a few months ago,, and IAI chief Yitzhak Nissan is now in negotiations over the details, the report said.
IAI has long-standing collaborations with various Indian companies and agencies.
Last month, IAI launched its TechSAR all- weather, high-resolution radar satellite using an Indian launcher in collaboration with the Indian Space Research Organization.
IAI’s order backlog totalled $7.3 billion at the end of 2007. If the new deal materialises, it will be a substantial boost for the company.