By Xinhua
Jerusalem : Israel Aerospace Industries Ltd. (IAI) is discussing details of a 1.5 billion U.S. dollars deal with India to set up a defense system using innovative long-range missiles, local media reported on 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 local daily Globes.
A few months ago, India’s Supreme Procurement Council approved the deal, and IAI CEO 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 Tech SAR all-weather, high-resolution radar satellite using an Indian launcher in collaboration with the Indian Space Research Organization.
IAI’s order backlog totaled 7.3 billion U.S. dollars at the end of 2007. If this new deal is signed, it will be a substantial boost for the company.