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Added on : 2018-10-24 17:38:00

Israel Aerospace Industries (IAI) has won an additional $777 million contract to supply LRSAM air and missile defence systems to seven ships in the Indian navy, the company said on Wednesday. The contract is with the Bharat Electronics Ltd (BEL), which is the main contractor in the project, IAI said. The LRSAM, part of the Barak 8 family, is an air and missile defence system used by Israel's navy as well as India`s navy, air and land forces. With this deal, sales of the Barak 8 over the past few years total over $6 billion, IAI said. "IAI`s partnership with India dates many years back and has culminated in joint system development and production," IAI Chief Executive Officer Nimrod Sheffer said. "India is a major market for IAI and we plan to ... reinforce our positioning in India, also in view of increasing competition.”

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