The Philippines has okayed a potential purchase of Shore-Based Anti-Ship Missile System Acquisition from India-based Indo-Russian joint venture, BrahMos Aerospace.
The acquisition is worth $374.9 million and will be one of the biggest defense exports from India if the deal goes through.
A letter from the Philippines Department of National Defense (DND) to Brahmos Aerospace Pvt. Ltd informs that it accepts BrahMos Aerospace Pvt Ltd's proposal worth $374,962,800 for the supply of Shore-Based Anti-Ship Missile System for the Philippines Navy.
The letter tweeted by the Times of India asks BrahMos Aerospace to provide Performance Security as per terms of reference within 10 days of the date of the letter (December 31, 2021).