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Saturday, July 14, 2007

India, Israeli To Develop US$2.47 Billion Worth Barak II Project

India has started a 2.5-billion-dollar joint venture with Israel to develop an advanced range surface-to-air missile capable of detecting and destroying hostile aircraft, missiles and spy planes, news reports said Friday.

India's Cabinet Committee on Security chaired by Prime Minister Manmohan Singh on Thursday approved the project between the Defence Research and Development Organization and Israel Aerospace Industries for developing the missile system which would have a range of about 70 kilometres, the Times of India daily reported.

The venture would work towards developing an air defence system for the Indian Air Force to replace its ageing Soviet-era Pechoura missile system.

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