IAI wins further huge contract in India

Barak 8  photo: courtesy IAI
Barak 8 photo: courtesy IAI

Israel Aerospace will supply systems for Barak 8 surface-to-air missiles to India's BEL for installation on Indian warships.

Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) has won another large contact in India. IAI reported this morning that it will sell launch, radar, fire control and other systems for the Barak 8 surface-to-air missile that it is developing in collaboration with the Indian Ministry of Defense. The contract with Indian state-owned company BEL (Bharat Electronics Ltd) is worth $630 million.

BEL with supply the Indian navy four new warships equipped with the maritime version of the Barak 8 system.

This deal is in addition to the one reported six weeks ago in which IAI will supply Barak 8 systems to the Indian naval and land armed forces. That deal, Israel's largest ever, is worth some $2 billion.

BEL serves as the main contractor in the project as part of India's "Make in India" policy. The Barak 8 system was successfully tested last week in India as part of an operational interception trial aboard an India Navy ship. All components of the weapon system were reported to have have successfully met the goals set for them.

IAI president and CEO Joseph Weiss said, "The new contract adds to other deals signed in the last decade by IAI with India's defense forces, reinforcing IAI's global leadership position in air and missile defense systems. The inclusion of Indian governmental company BEL for the first time, is a step up in our relationship with the Indian industry as part of the 'Make in India' policy. This unique project represents the close collaboration between India's DRDO, IAI and the defence forces of both countries. We will proceed to implementing it with joint efforts."

Barak 8, also known as MRSAM, or in the naval version LRSAM, is an advanced air and missile defense system that provides the ultimate protection against a variety of aerial threats. In its existing version, MRSAM is operational with the Indian Air Force, Indian Navy and Israel Defense Forces. The system includes an advanced phased-array radar, command and control, mobile launchers and missiles with advanced RF seekers. Barak 8 was developed jointly for the Indian Army by IAI and India’s Defense Research and Development Organization (DRDO) in collaboration with Rafael Advanced Defense Systems Ltd. and IAI's ELTA unit, as well as Indian companies including BEL, L&T, BDL and other private vendors.

Published by Globes [online], Israel business news - www.globes-online.com - on May 21, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Barak 8  photo: courtesy IAI
Barak 8 photo: courtesy IAI
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