India to buy 300 fighter jets
Oct 7, 2010
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Hindustan Aeronautic Ltd (HAL) and Russia's United Aircraft Corp and Rosoboronexport signed a joint venture last month to develop the multi-role transport aircraft in a project worth $645 million.
PHOTO: REUTERS
NEW DELHI - INDIA has agreed to buy up to 300 advanced stealth fighter jets from Russia, Defence Minister A.K. Antony said on Thursday, announcing a deal that could be worth up to US$30 billion (S$39 billion).
Mr Antony told a press conference with his Russian counterpart Anatoly Serdyukov that Russia would supply the Fifth Generation Fighter Aircraft (FGFA) as well as 45 multi-role transport aircraft. 'India will receive 250-300 most advanced FGFAs,' Mr Antony said. 'These are the two major projects for the next 10 years which will be a shining example of Indian-Russian cooperation.'
Hindustan Aeronautic Ltd (HAL) and Russia's United Aircraft Corp and Rosoboronexport signed a joint venture last month to develop the multi-role transport aircraft in a project worth $645 million. Mr Serdyukov said the success in the co-production of the BrahMos cruise missile would spur the FGFA's joint development by India's HAL and Russia's state-owned Sukhoi Company.
'We have a 10-year programme and it is quite challenging (but) we have very good experience in military cooperation and BrahMos is an example,' the Russian minister said of the FGFA, the richest deal in India's military history. 'The FGFA have been designed by us, the price has been fixed and the draft of the agreement has been given to India. Once it is signed, HAL and Sukhoi will participate,' he said.
Mr Serdyukov did not disclose details. Experts say each 30-ton FGFA is worth up to $100 million. Indian Defence Production Secretary R.K. Singh said the costing would be worked out in stages. 'At present a 300-million dollar preliminary design contract for the FGFA programme is currently under the (Indian) government's consideration,' Mr Singh told AFP separately.
The draft agreement is likely to be signed during a trip to India by President Dmitry Medvedev in December.
straitstimes.com