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Tuesday, October 21, 2008

Russia has over $5 bln in foreign naval orders

Foreign orders for Russian naval hardware for the next three years exceed $5 billion, a state arms export monopoly senior official said on Tuesday.

"The portfolio of orders, namely contracts signed and in force, is estimated at over $5 billion, with different deadlines up to 2011," said Ivan Goncharenko, first deputy general director of Rosoboronexport.

In 2007 the share of naval equipment in Rosoboronexport's portfolio of export orders was 9% or $600 million, the official said, adding that India, China, Algeria, Vietnam and Indonesia remained key buyers of Russia's naval armaments.

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