Indo-Israeli joint development of next generation long range naval surface-to-air missile announced
Dated 2/2/2006
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Hyderabad: The state-owned Defence Research and Development Laboratory (DRDL), Hyderabad, and Israeli Aircraft Industries (IAI) signed a pact Jan. 27 for the joint development and production of the long-range Barak air defense system for the Indian and Israeli militaries.
The agreement is based on joint investment by both companies to develop and manufacture unspecified numbers of Barak systems.
The initial co-development funding is about $350 million, of which IAI will finance 50 percent, for the next five years, a senior scientist of India
