Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Indian Navy Buying 260 Barak-1 Missiles for $143 Million from Rafael

RAFAEL - NAVAL MISSILE

 

Rafael Advanced Defense Systems Ltd. will provide the Indian Navy with hundreds of Barak-1 missiles over the next 18 months in a deal worth $143 million. India’s Ministry of Defense approved the procurement in recent days in part because naval commanders have warned of a grave shortage of such missiles in the Indian Navy’s inventory. The Barak-1 is an anti-missile defense system, and the Indian Navy is reportedly down to its last 150 such missiles.

The Indian government has decided to procure more than 260 Barak-1 missiles, which are manufactured by Rafael in collaboration with Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) and its Elta Industries division. IAI produces the command and control systems for the missile while Elta has developed the radar.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

There was a long period of discussions before the Indian government made its final decision about procuring the missiles due to enquiries into a bribery scandal involving defense manufacturers from other countries. Rafael and IAI were eventually cleared of any wrongdoing and the Barak-1 missile deal was given the go-ahead.

The Barak-1 missile was developed in the 1990s and with a range of 9-10 kilometers serves as the main defense missile for the Israel Navy.

India is also a major partner of Israeli defense manufacturers in plans to develop a more advanced version of the Barak-1 missile the Barak-8. The agreement to develop the Barak-8 was signed four years ago and when development is complete, the Indian Navy will be equipped with hundreds of these innovative missiles in a deal worth $1.4 billion.

 

Published by Globes [online], Israel business news – www.globes-online.com

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News