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March 30, 2016 8:56 am

Israeli, Indian Firms Sign Agreement to Produce Air Defense Systems

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An Israeli soldier with a Spike anti-tank missile launcher, which was developed by Rafael Advanced Defense Systems. Photo: Natan Flayer via Wikimedia Commons.

An Israeli soldier with a Spike anti-tank missile launcher, which was developed by Rafael Advanced Defense Systems. Photo: Natan Flayer via Wikimedia Commons.

JNS.org – Israel’s Rafael Advanced Defense Systems and India’s Reliance Defense on Tuesday announced that they have agreed to establish a joint venture to produce air defense systems.

The agreement, which is valued at more than $10 billion for the next decade, will produce air-to-air missiles, air defense systems, and observation balloons. Reliance will hold a majority stake in the joint venture at 51 percent, while Rafael will hold 49 percent.

Rafael Director-General Maj.-Gen. (res.) Yoav Har-Even said that the joint venture is “part of our global strategy for cooperation in general and in India specifically.”

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“This cooperation will help us give the Indian Ministry of Defense its added value when it comes to deal with the goals and challenges that it faces,” said Har-Even, the Jerusalem Post reported.

 

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