(Source: Press Information Bureau India)
12:00 AM, December 18, 2008
A contract for upgradation of MiG-29 aircraft was signed with M/s RAC-MiG, Russia, on March 07, 2008 on single vendor basis. The contract for SPYDER Low Level Quick Reaction Missile system was signed with M/s RAFAEL, Israel, on Sep 01, 2008 after multi-vendor global tendering.>> Transfer of Technology for series upgrade of MiG-29 aircraft and their Repair and Overhaul (ROH) is part of the upgrade contract. However, transfer of technology was not considered viable in case of Low Level Quick Reaction Missile system.>> An expenditure of 964.082 million USD (approx Rs. 3875.61 crores) would be towards upgrade of MiG-29 aircraft, and USD 260,050,000 (approx Rs. 1137.71875 crores) for purchase of Low Level Quick Reaction Missile Systems.>> This information was given by the Defence Minister Shri A K Antony in a written reply to Shri Vijay Jawaharlal Darda in Rajya Sabha today.>> -ends->